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 stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,078,922 shares of the company's stock after selling 175,671 shares during the quarter. DnB Asset Management AS owned 0.68% of Darling Ingredients worth $33,706,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of Darling Ingredients during the 4th quarter worth $25,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Darling Ingredients in the 1st quarter valued at $30,000. Hexagon Capital Partners LLC increased its position in shares of Darling Ingredients by 33.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock worth $62,000 after purchasing an additional 500 shares in the last quarter. UMB Bank n.a. increased its position in shares of Darling Ingredients by 207.1% during the 1st quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock worth $64,000 after purchasing an additional 1,373 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Darling Ingredients by 101.3% during 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 in the last quarter. Institutional investors and hedge funds own 94.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Darling Ingredients in a research note on Wednesday, August 20th. They set an "overweight" rating and a $43.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, July 28th. Jefferies Financial Group lifted their price objective on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Tudor Pickering raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. Finally, Baird R W lowered shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.57.

Insiders Place Their Bets

In other Darling Ingredients news, CEO Randall C. Stuewe sold 35,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the completion of the sale, the chief executive officer owned 781,437 shares of the company's stock, valued at approximately $24,162,032.04. This represents a 4.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.07% of the company's stock.

Darling Ingredients Price Performance

DAR traded down $0.35 on Wednesday, hitting $31.29. 1,489,723 shares of the stock were exchanged, compared to its average volume of 2,359,598. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 47.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.50 and a quick ratio of 0.89. Darling Ingredients Inc. has a 12 month low of $26.00 and a 12 month high of $43.49. The business has a 50-day moving average of $33.94 and a two-hundred day moving average of $33.13.

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

Darling Ingredients 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.