Mercer Global Advisors Inc. ADV bought a new stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 66,029 shares of the company's stock, valued at approximately $2,225,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. M&T Bank Corp boosted its stake in Darling Ingredients by 3.3% during the 4th quarter. M&T Bank Corp now owns 8,987 shares of the company's stock valued at $303,000 after purchasing an additional 286 shares during the period. Ironwood Investment Management LLC raised its holdings in shares of Darling Ingredients by 0.7% during the fourth quarter. Ironwood Investment Management LLC now owns 41,957 shares of the company's stock valued at $1,414,000 after buying an additional 297 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Darling Ingredients by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 6,105 shares of the company's stock worth $206,000 after buying an additional 337 shares during the period. Metis Global Partners LLC grew its holdings in Darling Ingredients by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 9,786 shares of the company's stock worth $330,000 after buying an additional 406 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Darling Ingredients by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 69,709 shares of the company's stock valued at $2,348,000 after acquiring an additional 440 shares during the period. Institutional investors and hedge funds own 94.44% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Stephens reiterated an "overweight" rating and issued a $52.00 price objective on shares of Darling Ingredients in a report on Thursday, January 23rd. Citigroup cut their target price on Darling Ingredients from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Robert W. Baird lowered their price target on Darling Ingredients from $41.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. TD Cowen cut their price objective on Darling Ingredients from $37.00 to $34.00 and set a "hold" rating for the company in a report on Friday, April 25th. Finally, StockNews.com raised Darling Ingredients from a "sell" rating to a "hold" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.33.
Read Our Latest Stock Analysis on DAR
Darling Ingredients Stock Up 3.3%
Shares of DAR traded up $1.16 during mid-day trading on Tuesday, reaching $36.67. The company's stock had a trading volume of 369,559 shares, compared to its average volume of 2,248,249. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 21.20 and a beta of 1.25. The business has a fifty day moving average of $30.87 and a 200 day moving average of $35.16. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a 1 year low of $26.00 and a 1 year high of $47.28.
Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.36). Darling Ingredients had a return on equity of 6.04% and a net margin of 4.88%. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.
About Darling Ingredients
(
Free Report)
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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