Van ECK Associates Corp Has $33.61 Million Holdings in Darling Ingredients Inc. $DAR

Key Points

• Van ECK Associates reduced its Darling Ingredients stake by 9.3% in the second quarter, selling 62,811 shares and retaining 615,370 shares worth approximately $33.61 million. Institutional investors collectively own 94.44% of the company.
• Darling Ingredients reported second-quarter EPS of $2.41, exceeding estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion. Analysts expect full-year EPS of approximately $6.98.
• Wall Street remains favorable toward the stock, with a consensus “Moderate Buy” rating and a $69 target price; shares recently opened at $64.35 after trading between $29.15 and $69.98 over the prior year.

Van ECK Associates Corp lessened its stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 9.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 615,370 shares of the company's stock after selling 62,811 shares during the quarter. Van ECK Associates Corp owned about 0.39% of Darling Ingredients worth $33,612,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Darling Ingredients during the 2nd quarter worth about $851,450,000. Deutsche Bank AG acquired a new stake in shares of Darling Ingredients in the 2nd quarter valued at approximately $168,348,000. Norges Bank bought a new position in Darling Ingredients during the 4th quarter worth approximately $94,211,000. Bank of America Corp DE bought a new position in Darling Ingredients during the 2nd quarter worth approximately $129,371,000. Finally, No Street GP LP acquired a new position in Darling Ingredients during the third quarter valued at approximately $69,458,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Darling Ingredients Price Performance

NYSE DAR opened at $64.35 on Monday. The business has a 50 day simple moving average of $60.68 and a 200 day simple moving average of $58.89. Darling Ingredients Inc. has a 52-week low of $29.15 and a 52-week high of $69.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business's revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Analysts anticipate that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DAR has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, May 4th. TD Cowen lifted their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Zacks Research raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Activity at Darling Ingredients

In related news, CAO Joseph Manzi sold 1,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the transaction, the chief accounting officer directly owned 18,969 shares of the company's stock, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles L. Adair bought 1,000 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $60.97 per share, with a total value of $60,970.00. Following the acquisition, the director owned 51,690 shares in the company, valued at approximately $3,151,539.30. This represents a 1.97% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 10,591 shares of company stock valued at $704,303. Insiders own 1.90% of the company's stock.

About Darling Ingredients

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source