Truist Financial Corp Cuts Stock Position in Darling Ingredients Inc. $DAR

Key Points

• Truist Financial Corp reduced its holdings in Darling Ingredients Inc. by 41.6%, owning 24,748 shares after selling 17,627 during the 2nd quarter, translating to a value of $939,000.
• Several institutional investors increased their stakes in Darling Ingredients, with Gates Capital Management boosting holdings by 18.7% and American Century Companies increasing by 155.5% in the first quarter.
• Despite reporting a revenue increase of 1.8% year-over-year, Darling Ingredients missed its earnings per share estimate, posting $0.09 instead of the anticipated $0.12.

Truist Financial Corp decreased its position in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 41.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,748 shares of the company's stock after selling 17,627 shares during the period. Truist Financial Corp's holdings in Darling Ingredients were worth $939,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DAR. Gates Capital Management Inc. boosted its holdings in shares of Darling Ingredients by 18.7% in the first quarter. Gates Capital Management Inc. now owns 7,915,560 shares of the company's stock valued at $247,282,000 after acquiring an additional 1,247,117 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Darling Ingredients by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,480,803 shares of the company's stock valued at $233,701,000 after acquiring an additional 1,026,958 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Darling Ingredients by 155.5% in the first quarter. American Century Companies Inc. now owns 1,479,369 shares of the company's stock valued at $46,215,000 after acquiring an additional 900,461 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Darling Ingredients by 548.4% in the first quarter. AQR Capital Management LLC now owns 635,351 shares of the company's stock valued at $19,588,000 after acquiring an additional 537,356 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Darling Ingredients in the first quarter valued at about $14,651,000. Hedge funds and other institutional investors own 94.44% of the company's stock.

Darling Ingredients Stock Down 0.7%

Shares of NYSE DAR opened at $29.88 on Tuesday. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $43.49. The company has a market capitalization of $4.73 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. 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 firm's 50-day moving average is $31.84 and its two-hundred day moving average is $33.01.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the company earned $0.49 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts anticipate that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DAR has been the topic of several analyst reports. Piper Sandler lowered their target price on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. Weiss Ratings reissued a "sell (d)" rating on shares of Darling Ingredients in a report on Wednesday, October 8th. Baird R W downgraded shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Robert W. Baird reissued a "neutral" rating and set a $36.00 price objective (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. Finally, Bank of America began coverage on Darling Ingredients in a report on Wednesday, October 8th. They issued a "buy" rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.25.

Insider Buying and Selling at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 781,437 shares of the company's stock, valued at $24,162,032.04. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.07% of the stock is currently owned by corporate insiders.

Darling Ingredients Company 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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