Oppenheimer Asset Management Inc. Acquires Shares of 142,713 Darling Ingredients Inc. $DAR

Oppenheimer Asset Management Inc. bought a new stake in shares of Darling Ingredients Inc. (NYSE:DAR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 142,713 shares of the company’s stock, valued at approximately $7,795,000.

Several other institutional investors and hedge funds have also modified their holdings of DAR. Danske Bank A S acquired a new position in shares of Darling Ingredients in the third quarter worth $25,000. Allworth Financial LP raised its holdings in shares of Darling Ingredients by 227.2% during the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after acquiring an additional 509 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Darling Ingredients by 69.9% during the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in Darling Ingredients during the fourth quarter valued at $29,000. Finally, Leonteq Securities AG purchased a new position in Darling Ingredients in the fourth quarter valued at about $35,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

NYSE DAR opened at $66.86 on Friday. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $67.68. The stock’s 50-day moving average is $58.93 and its two-hundred day moving average is $57.49. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The firm has a market cap of $10.55 billion, a P/E ratio of 18.02 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DAR shares. Barclays upped their target price on Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Jefferies Financial Group lifted their price target on Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings raised Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Scotiabank increased their price objective on Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity at Darling Ingredients

In related news, Director Charles L. Adair bought 1,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $60.97 per share, for a total transaction of $60,970.00. Following the acquisition, the director owned 51,690 shares in the company, valued at $3,151,539.30. This trade represents a 1.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nicholas James Kemphaus sold 1,591 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the sale, the executive vice president owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by company insiders.

Darling Ingredients Company Profile

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.