Wellington Management Group LLP Sells 19,936 Shares of Darling Ingredients Inc. $DAR

Key Points

• Wellington Management Group LLP reduced its stake in Darling Ingredients by 2.4%, holding 805,536 shares valued at $25.17 million after selling 19,936 shares in the latest quarter.
• Insider activity reports that CEO Randall C. Stuewe sold 35,000 shares for approximately $1.08 million, reducing his ownership stake by 4.29% to 781,437 shares.
• Wall Street analysts have mixed opinions on Darling Ingredients, with one strong buy rating and a consensus target price of $43.57, despite recent downward adjustments in price targets by other firms.

Wellington Management Group LLP reduced its holdings in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 805,536 shares of the company's stock after selling 19,936 shares during the quarter. Wellington Management Group LLP owned approximately 0.51% of Darling Ingredients worth $25,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Peregrine Capital Management LLC boosted its holdings in shares of Darling Ingredients by 16.5% in the 1st quarter. Peregrine Capital Management LLC now owns 218,806 shares of the company's stock worth $6,835,000 after acquiring an additional 30,952 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Darling Ingredients by 19.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,490 shares of the company's stock worth $953,000 after acquiring an additional 4,933 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Darling Ingredients by 14.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 154,315 shares of the company's stock worth $4,821,000 after purchasing an additional 19,113 shares during the last quarter. GAMMA Investing LLC raised its position in Darling Ingredients by 6,187.6% in the 1st quarter. GAMMA Investing LLC now owns 64,448 shares of the company's stock worth $2,063,000 after purchasing an additional 63,423 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in Darling Ingredients in the 1st quarter worth approximately $255,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Darling Ingredients

In related 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 sale, the chief executive officer owned 781,437 shares in the company, valued at approximately $24,162,032.04. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.62% of the company's stock.

Darling Ingredients Stock Performance

Darling Ingredients stock traded down $0.39 during trading hours on Friday, hitting $33.94. The company had a trading volume of 1,668,140 shares, compared to its average volume of 2,238,405. The firm has a market cap of $5.37 billion, a PE ratio of 51.43 and a beta of 1.19. 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 one year low of $26.00 and a one year high of $43.49. The firm has a 50-day moving average of $34.77 and a 200 day moving average of $33.56.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 net margin of 1.85% and a return on equity of 2.35%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. On average, sell-side analysts expect that Darling Ingredients Inc. will post 2.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird restated a "neutral" rating and issued a $36.00 price objective (down previously from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Jefferies Financial Group upped their price objective on shares of Darling Ingredients from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. began coverage on shares of Darling Ingredients in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 price objective for the company. Tudor Pickering upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. Finally, Piper Sandler reduced their target price on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $43.57.

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.