DNB Asset Management AS Has $44.83 Million Position in Darling Ingredients Inc. $DAR

Key Points

• DNB Asset Management increased its stake in Darling Ingredients by 7.5% in the fourth quarter, ending with 1.25 million shares valued at about $44.8 million.
• Several other hedge funds also boosted positions, and institutional investors collectively own 94.44% of Darling Ingredients’ stock.
• Wall Street remains bullish on DAR, with a Buy consensus and an average price target of $69; the company also recently beat quarterly EPS estimates, though two insiders sold shares.

DNB Asset Management AS increased its position in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,245,217 shares of the company's stock after buying an additional 86,459 shares during the period. DNB Asset Management AS owned 0.79% of Darling Ingredients worth $44,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DAR. Goldman Sachs Group Inc. increased its holdings in Darling Ingredients by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock worth $20,119,000 after buying an additional 93,408 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Darling Ingredients by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company's stock worth $18,768,000 after purchasing an additional 58,925 shares during the period. Focus Partners Wealth bought a new stake in Darling Ingredients during the first quarter worth approximately $205,000. M&T Bank Corp boosted its position in Darling Ingredients by 11.2% during the second quarter. M&T Bank Corp now owns 8,384 shares of the company's stock worth $318,000 after purchasing an additional 847 shares during the period. Finally, Invesco Ltd. boosted its position in Darling Ingredients by 5.0% during the second quarter. Invesco Ltd. now owns 677,528 shares of the company's stock worth $25,705,000 after purchasing an additional 32,553 shares during the period. Institutional investors and hedge funds own 94.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DAR. Robert W. Baird upped their target price on Darling Ingredients from $64.00 to $75.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Jefferies Financial Group upped their target price on Darling Ingredients from $73.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Piper Sandler increased their price objective on Darling Ingredients from $49.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on Darling Ingredients from $78.00 to $79.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Weiss Ratings raised Darling Ingredients from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $69.00.

Insider Buying and Selling at Darling Ingredients

In related news, CEO Randall C. Stuewe sold 20,000 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $52.12, for a total value of $1,042,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,117,085 shares of the company's stock, valued at $58,222,470.20. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph Manzi sold 3,000 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the transaction, the chief accounting officer directly owned 19,969 shares of the company's stock, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by company insiders.

Darling Ingredients Stock Down 0.7%

DAR opened at $62.35 on Friday. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $66.02. The company has a current ratio of 1.58, a quick ratio of 0.99 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 45.18 and a beta of 1.07. The business has a 50 day moving average of $59.81 and a 200-day moving average of $46.98.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.27. The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.56 billion. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.Darling Ingredients's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) earnings per share. As a group, sell-side analysts anticipate that Darling Ingredients Inc. will post 4.59 earnings per share for the current year.

Darling Ingredients Company Profile

Darling Ingredients Inc NYSE: DAR is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company's core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.

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