Perigon Wealth Management LLC Sells 19,273 Shares of Darling Ingredients Inc. $DAR

Key Points

• Perigon Wealth Management LLC sold 19,273 shares of Darling Ingredients Inc., reducing its holdings by 10.6% to 162,767 shares, valued at approximately $6.18 million.
• Darling Ingredients reported earnings of $0.09 per share for the last quarter, missing expectations, with revenues of $1.48 billion, slightly below the estimated $1.49 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for Darling Ingredients, with a target price averaging $43.57, reflecting positive sentiments despite mixed recent performance.

Perigon Wealth Management LLC decreased its holdings in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 10.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,767 shares of the company's stock after selling 19,273 shares during the period. Perigon Wealth Management LLC owned about 0.10% of Darling Ingredients worth $6,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC bought a new stake in Darling Ingredients in the 1st quarter valued at $30,000. Hexagon Capital Partners LLC boosted its position in Darling Ingredients by 33.3% during the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock worth $62,000 after purchasing an additional 500 shares during the period. UMB Bank n.a. increased its holdings in shares of Darling Ingredients by 207.1% in the first quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock valued at $64,000 after purchasing an additional 1,373 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Darling Ingredients by 101.3% in the first quarter. GAMMA Investing LLC now owns 2,063 shares of the company's stock valued at $64,000 after purchasing an additional 1,038 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Darling Ingredients by 45.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,172 shares of the company's stock worth $82,000 after buying an additional 674 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DAR has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Darling Ingredients in a report on Wednesday, August 20th. They set an "overweight" rating and a $43.00 target price for the company. Tudor Pickering upgraded Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 11th. Robert W. Baird reiterated a "neutral" rating and set a $36.00 target price (down previously from $40.00) on shares of Darling Ingredients in a research note on Friday, July 25th. Baird R W cut Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group upped their price objective on Darling Ingredients from $45.00 to $46.00 and gave the company a "buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.57.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $31.44 on Friday. The firm has a market cap of $4.97 billion, a PE ratio of 47.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.50 and a quick ratio of 0.89. The stock's fifty day moving average price is $32.58 and its two-hundred day moving average price is $32.89. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $43.49.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. As a group, research analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Insider Transactions at Darling Ingredients

In other Darling Ingredients news, CEO Randall C. Stuewe sold 35,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $30.92, for a total value of $1,082,200.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is owned by insiders.

Darling Ingredients 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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