Darling Ingredients Inc. $DAR Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Darling Ingredients stake by 37.9% in the third quarter, selling 22,608 shares and retaining 36,970 shares valued at approximately $2.24 million. Institutional investors and hedge funds still own 94.44% of the company.
• Darling Ingredients reported quarterly revenue of $1.72 billion and earnings of $2.41 per share, significantly exceeding analysts’ estimates. Revenue increased 16.4% year over year, while analysts expect full-year EPS of $7.09.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $73.80. Recent targets ranged as high as $88, despite insider sales totaling 10,591 shares over the past 90 days.

Crossmark Global Holdings Inc. reduced its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 37.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,970 shares of the company's stock after selling 22,608 shares during the period. Crossmark Global Holdings Inc.'s holdings in Darling Ingredients were worth $2,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Darling Ingredients in the 2nd quarter worth approximately $851,450,000. Deutsche Bank AG acquired a new stake in shares of Darling Ingredients during the 2nd quarter worth approximately $168,348,000. Bank of America Corp DE acquired a new stake in shares of Darling Ingredients during the 2nd quarter worth approximately $129,371,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Darling Ingredients during the 2nd quarter valued at approximately $118,952,000. Finally, Man Group plc purchased a new position in shares of Darling Ingredients during the 2nd quarter valued at approximately $78,876,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Stock Up 1.2%

DAR opened at $56.28 on Friday. Darling Ingredients Inc. has a twelve month low of $31.48 and a twelve month high of $69.98. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $63.25 and a 200 day moving average price of $61.06. The company has a market cap of $8.88 billion, a PE ratio of 15.17 and a beta of 1.04.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $0.08 EPS. Darling Ingredients's quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Darling Ingredients Inc. will post 7.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on DAR shares. JPMorgan Chase & Co. boosted their target price on shares of Darling Ingredients from $82.00 to $83.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. TD Cowen increased their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Darling Ingredients from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 12th. UBS Group lifted their price objective on shares of Darling Ingredients from $78.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, September 22nd. Finally, Jefferies Financial Group raised shares of Darling Ingredients to a "strong-buy" rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.80.

Insider Transactions at Darling Ingredients

In other news, EVP Nicholas Kemphaus sold 1,591 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the transaction, the executive vice president owned 35,087 shares in the company, valued at $2,212,235.35. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the sale, the chief accounting officer directly owned 18,969 shares in the company, valued at $1,276,044.63. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,591 shares of company stock valued at $704,303 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Darling Ingredients Company Profile

Darling Ingredients Inc NYSE: DAR is a global developer and producer of sustainable ingredients and renewable energy solutions. The company collects and transforms animal by-products, used cooking oil, food waste and other organic materials into value-added products, helping divert waste from landfills and recover materials for reuse.

Its products include fats, proteins, meals, collagen, gelatin and specialty ingredients used in animal feed, pet food, food, pharmaceuticals and industrial applications.

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