Darling Ingredients Inc. (NYSE:DAR) Stake Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in Darling Ingredients Inc. (NYSE:DAR) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,204,023 shares of the company’s stock after buying an additional 6,200 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.75% of Darling Ingredients worth $44,741,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Caprock Group LLC grew its position in Darling Ingredients by 4.3% in the 1st quarter. Caprock Group LLC now owns 6,691 shares of the company’s stock worth $311,000 after purchasing an additional 277 shares during the last quarter. Fisher Asset Management LLC increased its position in Darling Ingredients by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 23,494 shares of the company’s stock valued at $1,171,000 after acquiring an additional 341 shares during the period. Invesco LLC raised its stake in Darling Ingredients by 10.0% during the 1st quarter. Invesco LLC now owns 5,556 shares of the company’s stock valued at $258,000 after acquiring an additional 507 shares in the last quarter. Rise Advisors LLC acquired a new position in Darling Ingredients during the 1st quarter worth $25,000. Finally, Covestor Ltd grew its stake in shares of Darling Ingredients by 21.9% in the first quarter. Covestor Ltd now owns 3,206 shares of the company’s stock worth $149,000 after purchasing an additional 576 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Trading Up 2.3 %

Shares of NYSE:DAR traded up $0.83 during midday trading on Friday, reaching $36.94. The company had a trading volume of 943,902 shares, compared to its average volume of 2,182,491. The company has a fifty day simple moving average of $37.82 and a two-hundred day simple moving average of $39.80. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 11.06 and a beta of 1.24. Darling Ingredients Inc. has a 1-year low of $32.67 and a 1-year high of $51.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. Research analysts predict that Darling Ingredients Inc. will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th. TD Cowen decreased their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. Scotiabank lowered their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Citigroup upgraded Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.10.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Robert W. Day bought 2,532 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $39.37 per share, with a total value of $99,684.84. Following the completion of the transaction, the executive vice president now directly owns 12,607 shares in the company, valued at approximately $496,337.59. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.