Darling Ingredients Inc. $DAR Stake Lessened by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its stake in Darling Ingredients by 92.0% during the second quarter, holding only 1,213 shares worth $46,000.
• CEO Randall C. Stuewe sold 35,000 shares of the firm, decreasing his position by 4.29%, and now owns 781,437 shares valued at over $24 million.
• Despite a quarterly earnings miss, Darling Ingredients has a current average rating of "Moderate Buy" from analysts and an average price target of $43.57.

Fifth Third Bancorp trimmed its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 92.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,213 shares of the company's stock after selling 13,909 shares during the quarter. Fifth Third Bancorp's holdings in Darling Ingredients were worth $46,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Xponance Inc. lifted its position in shares of Darling Ingredients by 2.0% during the first quarter. Xponance Inc. now owns 20,183 shares of the company's stock worth $631,000 after purchasing an additional 393 shares during the last quarter. State of Michigan Retirement System raised its stake in Darling Ingredients by 1.1% during the first quarter. State of Michigan Retirement System now owns 38,074 shares of the company's stock valued at $1,189,000 after buying an additional 400 shares in the last quarter. Spire Wealth Management lifted its holdings in Darling Ingredients by 19.8% during the 1st quarter. Spire Wealth Management now owns 2,831 shares of the company's stock worth $88,000 after buying an additional 468 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Darling Ingredients by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 18,610 shares of the company's stock worth $581,000 after acquiring an additional 470 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Darling Ingredients by 33.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock valued at $62,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 94.44% of the company's stock.

Insider Activity at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was 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 directly owned 781,437 shares of the company's stock, valued at $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 available through this link. Company insiders own 2.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAR. Baird R W cut Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Jefferies Financial Group raised their price target on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Piper Sandler decreased their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, July 28th. Robert W. Baird reiterated a "neutral" rating and set a $36.00 price objective (down previously from $40.00) on shares of Darling Ingredients in a research note on Friday, July 25th. Finally, Tudor Pickering upgraded Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.57.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $31.43 on Friday. Darling Ingredients Inc. has a twelve month low of $26.00 and a twelve month high of $43.49. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $32.11 and a two-hundred day moving average of $32.95. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 47.62 and a beta of 1.22.

Darling Ingredients (NYSE:DAR - Get Free Report) last released 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). Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts expect that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

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.

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