DnB Asset Management AS Sells 175,671 Shares of Darling Ingredients Inc. $DAR

Key Points

• DnB Asset Management AS reduced its stake in Darling Ingredients Inc. by 14.0%, now holding approximately 1,078,922 shares valued at $33.7 million.
• Darling Ingredients reported $0.09 EPS for the last quarter, falling short of analysts’ expectations of $0.12, with revenues reaching $1.48 billion.
• Wall Street analysts have adjusted their ratings for Darling Ingredients, with Piper Sandler lowering the price target from $54 to $50 while maintaining an "overweight" rating.

DnB Asset Management AS lessened its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 14.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,078,922 shares of the company's stock after selling 175,671 shares during the period. DnB Asset Management AS owned about 0.68% of Darling Ingredients worth $33,706,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DAR. Heck Capital Advisors LLC bought a new stake in Darling Ingredients during the fourth quarter valued at $25,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Darling Ingredients in the 1st quarter worth about $30,000. Hexagon Capital Partners LLC raised its stake in Darling Ingredients by 33.3% during the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock worth $62,000 after acquiring an additional 500 shares during the period. UMB Bank n.a. boosted its stake in Darling Ingredients by 207.1% in the first quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock valued at $64,000 after acquiring an additional 1,373 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Darling Ingredients by 101.3% in the 1st quarter. GAMMA Investing LLC now owns 2,063 shares of the company's stock worth $64,000 after purchasing an additional 1,038 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Insider Activity at Darling Ingredients

In related news, CEO Randall C. Stuewe sold 35,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $30.92, for a total value of $1,082,200.00. Following the sale, the chief executive officer owned 781,437 shares of the company's stock, valued at $24,162,032.04. The trade was a 4.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.07% of the stock is owned by company insiders.

Darling Ingredients Stock Performance

NYSE:DAR traded up $0.45 during mid-day trading on Tuesday, hitting $31.65. 2,225,716 shares of the company's stock traded hands, compared to its average volume of 2,365,457. Darling Ingredients Inc. has a 12 month low of $26.00 and a 12 month high of $43.49. The firm has a 50 day moving average of $34.06 and a two-hundred day moving average of $33.14. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 47.96 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business posted $0.49 EPS. Darling Ingredients's revenue was up 1.8% compared to the same quarter last year. On average, equities analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on DAR shares. Tudor Pickering raised Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. initiated coverage on Darling Ingredients in a report on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 price target on the stock. Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Robert W. Baird restated a "neutral" rating and issued a $36.00 target price (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. Finally, Piper Sandler lowered their price target on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.57.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.