Darling Ingredients Inc. $DAR Stock: Pictet Asset Management Holding SA Increases Holdings

Key Points

• Pictet Asset Management increased its Darling Ingredients stake by 56.2% in the third quarter, adding 462,002 shares to reach 1.28 million shares valued at about $77.9 million. Institutional investors collectively own 94.44% of the company’s stock.
• Analyst sentiment was broadly positive: the stock carried a MarketBeat consensus rating of “Moderate Buy” and an average price target of $73.80.
• Darling Ingredients reported quarterly EPS of $1.67, slightly below the $1.70 consensus estimate, while revenue of $1.79 billion matched expectations. EPS was up from $0.12 in the same quarter a year earlier.

Pictet Asset Management Holding SA grew its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 56.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,283,539 shares of the company's stock after acquiring an additional 462,002 shares during the period. Pictet Asset Management Holding SA owned about 0.81% of Darling Ingredients worth $77,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DAR. BlackRock Inc. purchased a new stake in Darling Ingredients during the 2nd quarter worth approximately $851,450,000. Dimensional Fund Advisors LP raised its position in shares of Darling Ingredients by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company's stock valued at $498,927,000 after purchasing an additional 47,565 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Darling Ingredients in the 2nd quarter valued at approximately $168,348,000. Bank of America Corp DE purchased a new position in shares of Darling Ingredients during the 2nd quarter valued at approximately $129,371,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Darling Ingredients by 5.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,212,634 shares of the company's stock valued at $120,854,000 after buying an additional 120,674 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Darling Ingredients from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 12th. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $82.00 to $83.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Jefferies Financial Group upgraded shares of Darling Ingredients to a "strong-buy" rating in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of Darling Ingredients from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 31st. Finally, Stephens reissued an "overweight" rating and set a $80.00 price objective on shares of Darling Ingredients in a report on Thursday, October 15th. One 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $73.80.

Insiders Place Their Bets

In other Darling Ingredients news, CAO Joseph Manzi sold 1,000 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total transaction of $67,270.00. Following the completion of the sale, the chief accounting officer owned 18,969 shares in the company, valued at $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick McNutt sold 8,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the sale, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. This trade represents a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company's stock.

Darling Ingredients Trading Up 4.6%

NYSE:DAR opened at $52.51 on Tuesday. The company has a market cap of $8.29 billion, a PE ratio of 9.98 and a beta of 1.00. The business's 50 day moving average is $60.80 and its two-hundred day moving average is $58.56. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. Darling Ingredients Inc. has a 52 week low of $31.81 and a 52 week high of $69.98.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). Darling Ingredients had a net margin of 12.48% and a return on equity of 17.76%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company posted $0.12 earnings per share. On average, analysts predict that Darling Ingredients Inc. will post 6.85 EPS for the current year.

Darling Ingredients Company Profile

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company's businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.

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