S Bank Fund Management Ltd Decreases Stock Holdings in Darling Ingredients Inc. $DAR

Key Points

• S Bank Fund Management Ltd has significantly reduced its stake in Darling Ingredients Inc. by 80.9%, selling 84,562 shares and retaining only 20,000 shares, valued at approximately $759,000.
• The company reported a loss in earnings per share for the last quarter, with EPS of $0.09 compared to an analyst estimate of $0.12, despite a revenue increase of 1.8% year-over-year.
• Recent analyst ratings for Darling Ingredients include a price target reduction by Piper Sandler from $54.00 to $50.00 and a neutral rating from Robert W. Baird, reflecting a cautious outlook on the stock.

S Bank Fund Management Ltd trimmed its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 80.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,000 shares of the company's stock after selling 84,562 shares during the quarter. S Bank Fund Management Ltd's holdings in Darling Ingredients were worth $759,000 at the end of the most recent reporting period.

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

Darling Ingredients Price Performance

Darling Ingredients stock opened at $31.71 on Friday. The company's fifty day moving average price is $31.89 and its 200 day moving average price is $33.00. Darling Ingredients Inc. has a 1 year low of $26.00 and a 1 year high of $43.49. The stock has a market capitalization of $5.02 billion, a P/E ratio of 48.05, a P/E/G ratio of 1.74 and a beta of 1.22. 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 (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Darling Ingredients had a net margin of 1.85% and a return on equity of 2.35%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $0.49 EPS. Darling Ingredients's revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

DAR has been the subject of a number of recent research reports. Piper Sandler reduced their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. Robert W. Baird reissued a "neutral" rating and set a $36.00 price target (down from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Darling Ingredients in a research note on Wednesday, October 8th. Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group set a $42.00 price objective on shares of Darling Ingredients in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Darling Ingredients has an average rating of "Moderate Buy" and an average price target of $43.25.

Insider Transactions at Darling Ingredients

In related news, CEO Randall C. Stuewe sold 35,000 shares of Darling Ingredients stock in a transaction on 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 sale, the chief executive officer owned 781,437 shares of the company's stock, valued at approximately $24,162,032.04. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.62% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.