Ninety One UK Ltd Purchases 131,396 Shares of Darling Ingredients Inc. $DAR

Key Points

• Ninety One UK Ltd increased its Darling Ingredients stake by 17% in the third quarter, purchasing 131,396 shares and bringing its holdings to 903,040 shares worth approximately $54.8 million. Institutional investors collectively own 94.44% of the company.
• Darling Ingredients reported quarterly earnings of $2.41 per share, surpassing the $1.40 analyst consensus, while revenue rose 16.4% year over year to $1.72 billion.
• Analyst sentiment remains favorable, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $73.80; recent targets ranged as high as $88.

Ninety One UK Ltd increased its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 17.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 903,040 shares of the company's stock after purchasing an additional 131,396 shares during the period. Ninety One UK Ltd owned approximately 0.57% of Darling Ingredients worth $54,824,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Darling Ingredients by 60.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,949 shares of the company's stock valued at $1,514,000 after purchasing an additional 9,377 shares in the last quarter. Krilogy Financial LLC raised its stake in shares of Darling Ingredients by 3.3% during the 3rd quarter. Krilogy Financial LLC now owns 6,661 shares of the company's stock worth $407,000 after buying an additional 213 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Darling Ingredients by 101.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 11,813 shares of the company's stock valued at $735,000 after buying an additional 5,955 shares during the period. Perpetual Ltd lifted its holdings in shares of Darling Ingredients by 19.7% in the 3rd quarter. Perpetual Ltd now owns 5,378 shares of the company's stock valued at $326,000 after buying an additional 885 shares during the period. Finally, GK Wealth Management LLC acquired a new stake in shares of Darling Ingredients in the 3rd quarter valued at approximately $100,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

DAR stock traded down $0.93 during midday trading on Thursday, hitting $61.45. 816,210 shares of the stock were exchanged, compared to its average volume of 2,586,374. The stock's 50-day moving average price is $63.83 and its 200-day moving average price is $61.22. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 16.56 and a beta of 1.04. Darling Ingredients Inc. has a fifty-two week low of $30.39 and a fifty-two week high of $69.98. 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 posted its earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%. Darling Ingredients's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. Research analysts predict that Darling Ingredients Inc. will post 7.05 earnings per share for the current year.

Analysts Set New Price Targets

DAR has been the topic of a number of recent analyst reports. UBS Group upped their price objective on Darling Ingredients from $78.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, September 22nd. Jefferies Financial Group upgraded Darling Ingredients to a "strong-buy" rating in a research report on Tuesday, September 29th. Weiss Ratings raised Darling Ingredients from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. TD Cowen boosted their target price on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Darling Ingredients from $82.00 to $83.00 and gave the stock an "overweight" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Darling Ingredients currently has an average rating of "Moderate Buy" and a consensus price target of $73.80.

Insider Transactions at Darling Ingredients

In other news, Director Charles Adair purchased 1,000 shares of the business's stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $60.97 per share, with a total value of $60,970.00. Following the purchase, the director directly owned 51,690 shares of the company's stock, valued at $3,151,539.30. This represents a 1.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick McNutt sold 8,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the completion of the sale, the executive vice president owned 35,777 shares in the company, valued at $2,400,278.93. This represents a 18.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 10,591 shares of company stock worth $704,303. Corporate insiders own 1.90% of the company's stock.

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.

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