DekaBank Deutsche Girozentrale boosted its stake in Darling Ingredients Inc. (NYSE:DAR) by 30.2% during the 4th quarter, HoldingsChannel reports. The fund owned 155,300 shares of the company’s stock after acquiring an additional 36,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Darling Ingredients were worth $8,902,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Darling Ingredients during the 4th quarter worth about $40,000. Planned Solutions Inc. bought a new position in shares of Darling Ingredients during the fourth quarter worth about $58,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Darling Ingredients by 101.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 469 shares of the company’s stock valued at $87,000 after acquiring an additional 236 shares in the last quarter. Magnus Financial Group LLC acquired a new position in Darling Ingredients during the 4th quarter worth approximately $204,000. Finally, Triangle Securities Wealth Management acquired a new position in Darling Ingredients during the 4th quarter worth approximately $231,000. 94.72% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Jos Vervoort sold 14,000 shares of the business’s stock in a transaction dated Thursday, March 4th. The stock was sold at an average price of $68.13, for a total value of $953,820.00. Following the completion of the sale, the executive vice president now directly owns 49,109 shares of the company’s stock, valued at approximately $3,345,796.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Randall C. Stuewe sold 122,591 shares of the stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $70.03, for a total value of $8,585,047.73. Following the completion of the transaction, the chief executive officer now owns 853,789 shares in the company, valued at approximately $59,790,843.67. The disclosure for this sale can be found here. Company insiders own 2.96% of the company’s stock.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Monday, March 1st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. Darling Ingredients had a net margin of 14.50% and a return on equity of 15.13%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $908.07 million. During the same quarter last year, the firm posted $1.44 EPS. The company’s quarterly revenue was up 18.7% on a year-over-year basis. Equities analysts expect that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.
Several brokerages recently commented on DAR. Piper Sandler started coverage on shares of Darling Ingredients in a report on Monday, March 8th. They set an “overweight” rating and a $95.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Darling Ingredients from a “neutral” rating to an “overweight” rating and set a $84.00 price objective for the company in a research note on Thursday, March 11th. Zacks Investment Research lowered Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Monday, March 8th. Credit Suisse Group lifted their target price on Darling Ingredients from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 10th. Finally, BMO Capital Markets raised their price target on shares of Darling Ingredients from $63.00 to $72.00 and gave the stock a “market perform” rating in a research report on Thursday, March 4th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $69.27.
Darling Ingredients Profile
Darling Ingredients, Inc engages in the development and production of natural ingredients from edible and inedible bio-nutrients. It operates through the following segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. The Feed Ingredients segment includes ingredients business such as fats and proteins used cooking oil, trap grease and food residuals collection, the Rothsay ingredients, and the ingredients and specialty products.
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