Resona Asset Management Co. Ltd. Sells 9,952 Shares of Darling Ingredients Inc. $DAR

Resona Asset Management Co. Ltd. lessened its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 51.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,274 shares of the company's stock after selling 9,952 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Darling Ingredients were worth $292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. grew its stake in Darling Ingredients by 2.0% during the first quarter. Xponance Inc. now owns 20,183 shares of the company's stock valued at $631,000 after acquiring an additional 393 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Darling Ingredients by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 38,074 shares of the company's stock valued at $1,189,000 after purchasing an additional 400 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Darling Ingredients by 19.8% in the first quarter. Spire Wealth Management now owns 2,831 shares of the company's stock worth $88,000 after purchasing an additional 468 shares during the period. State of Alaska Department of Revenue raised its position in shares of Darling Ingredients by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 18,610 shares of the company's stock worth $581,000 after buying an additional 470 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Darling Ingredients by 33.3% in the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock worth $62,000 after buying an additional 500 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Price Performance

Shares of Darling Ingredients stock opened at $31.15 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. Darling Ingredients Inc. has a 52-week low of $26.00 and a 52-week high of $43.49. The company has a fifty day moving average of $35.26 and a 200-day moving average of $33.84. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 47.20 and a beta of 1.19.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly 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). Darling Ingredients had a net margin of 1.85% and a return on equity of 2.35%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The business's quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DAR shares. Piper Sandler decreased their target price on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Monday, July 28th. Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. TD Cowen dropped their target price on shares of Darling Ingredients from $37.00 to $34.00 and set a "hold" rating for the company in a research report on Friday, April 25th. Robert W. Baird reissued a "neutral" rating and issued a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Darling Ingredients from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.86.

About Darling Ingredients

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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