Darling Ingredients Inc. $DAR Stock: Assenagon Asset Management S.A. Lowers Position

Key Points

• Assenagon Asset Management reduced its Darling Ingredients position by 12.3% in the third quarter, selling 271,295 shares and retaining 1.94 million shares worth approximately $117.9 million. Institutional investors and hedge funds collectively own 94.44% of the company.
• Darling Ingredients reported quarterly EPS of $2.41, beating estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion. Analysts expect full-year EPS of about $7.05.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $73.80, despite some insider selling and a recent downgrade by Zacks Research.

Assenagon Asset Management S.A. cut its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 12.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,941,339 shares of the company's stock after selling 271,295 shares during the period. Assenagon Asset Management S.A. owned 1.23% of Darling Ingredients worth $117,859,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. raised its stake in shares of Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 174 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of Darling Ingredients in the first quarter worth about $47,000. Elevation Wealth Partners LLC increased its stake in shares of Darling Ingredients by 2,474.3% in the third quarter. Elevation Wealth Partners LLC now owns 901 shares of the company's stock worth $55,000 after purchasing an additional 866 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Darling Ingredients in the second quarter worth about $53,000. Finally, Basecamp Wealth Advisors LLC lifted its position in shares of Darling Ingredients by 35.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company's stock worth $64,000 after purchasing an additional 270 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $61.29 on Friday. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 15.22 and a beta of 1.04. Darling Ingredients Inc. has a 52 week low of $30.39 and a 52 week high of $69.98. The firm has a fifty day moving average of $63.88 and a two-hundred day moving average of $61.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, equities research analysts predict that Darling Ingredients Inc. will post 7.05 EPS for the current year.

Insider Activity at Darling Ingredients

In related news, EVP Nicholas Kemphaus sold 1,591 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the transaction, the executive vice president directly owned 35,087 shares of the company's stock, valued at approximately $2,212,235.35. This represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick McNutt sold 8,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares of the company's stock, valued at approximately $2,400,278.93. The trade was a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,591 shares of company stock valued at $704,303 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DAR. Jefferies Financial Group raised Darling Ingredients to a "strong-buy" rating in a report on Tuesday, September 29th. Barclays upped their price target on Darling Ingredients from $62.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. TD Cowen increased their price objective on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Weiss Ratings raised Darling Ingredients from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Finally, Zacks Research downgraded shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Darling Ingredients presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.80.

About Darling Ingredients

Darling Ingredients Inc is a global developer and producer of sustainable ingredients created from animal by-products, food waste and used cooking oil. The company collects and transforms these materials into products used in animal feed, pet food, agriculture, food, fuel and other industrial applications.

Its products include rendered fats and proteins, specialty feed ingredients, fertilizer inputs, collagen and gelatin, and bioenergy feedstocks. Through its renewable diesel operations, including the Diamond Green Diesel joint venture, Darling also converts low-carbon waste fats and oils into renewable fuel.

Founded in 1882, Darling Ingredients has grown from a U.S.

Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.