Range Financial Group LLC Acquires New Position in Darling Ingredients Inc. $DAR

Key Points

• Range Financial Group initiated a new position in Darling Ingredients during the first quarter, buying 20,825 shares valued at about $1.29 million.
• Several other major institutional investors also increased their stakes, and hedge funds and institutions now own 94.44% of Darling Ingredients’ stock.
• Analyst sentiment remains positive overall: multiple firms raised price targets or upgraded ratings, and the stock currently carries a Moderate Buy consensus with a $67.82 average price target.

Range Financial Group LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,825 shares of the company's stock, valued at approximately $1,288,000.

A number of other hedge funds have also bought and sold shares of DAR. Vanguard Group Inc. increased its position in shares of Darling Ingredients by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company's stock valued at $554,196,000 after acquiring an additional 512,219 shares during the period. Dimensional Fund Advisors LP grew its stake in Darling Ingredients by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,019,406 shares of the company's stock valued at $288,704,000 after purchasing an additional 242,857 shares during the last quarter. Davis Selected Advisers grew its stake in Darling Ingredients by 15.8% during the 4th quarter. Davis Selected Advisers now owns 2,842,306 shares of the company's stock valued at $102,324,000 after purchasing an additional 388,366 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Darling Ingredients by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,839,649 shares of the company's stock valued at $102,249,000 after purchasing an additional 76,151 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Darling Ingredients by 3.2% in the fourth quarter. Morgan Stanley now owns 2,649,084 shares of the company's stock valued at $95,367,000 after purchasing an additional 82,616 shares during the period. Institutional investors and hedge funds own 94.44% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their target price on Darling Ingredients from $64.00 to $75.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Wall Street Zen upgraded shares of Darling Ingredients from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. Zacks Research raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 22nd. Barclays lifted their price objective on shares of Darling Ingredients from $58.00 to $62.00 and gave the company an "equal weight" rating in a research note on Thursday, July 2nd. Finally, UBS Group upped their price objective on shares of Darling Ingredients from $58.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.82.

Insiders Place Their Bets

In related news, CAO Joseph Manzi sold 3,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Darling Ingredients Trading Down 1.4%

Shares of DAR stock opened at $60.15 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 market cap of $9.56 billion, a price-to-earnings ratio of 43.58 and a beta of 1.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.58 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $58.62 and a 200-day simple moving average of $53.30.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. The business's revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Darling Ingredients Inc. will post 4.68 EPS for the current fiscal 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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