Wellington Management Group LLP Trims Stock Holdings in Darling Ingredients Inc. $DAR

Wellington Management Group LLP reduced its position in Darling Ingredients Inc. (NYSE:DAR) by 39.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 770,388 shares of the company’s stock after selling 508,681 shares during the quarter. Wellington Management Group LLP’s holdings in Darling Ingredients were worth $42,079,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. raised its position in Darling Ingredients by 69.9% in the 1st 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. Allworth Financial LP boosted its stake 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 buying an additional 509 shares during the period. Cedar Mountain Advisors LLC purchased a new position in shares of Darling Ingredients during the first quarter worth about $47,000. Litman Gregory Wealth Management LLC acquired a new position in Darling Ingredients in the 4th quarter valued at about $29,000. Finally, Danske Bank A S purchased a new stake in Darling Ingredients during the 3rd quarter valued at approximately $25,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Darling Ingredients news, EVP Nicholas Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction that occurred on Monday, August 10th. The shares were 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 directly owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. The trade was a 4.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph Manzi sold 1,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the transaction, the chief accounting officer directly owned 18,969 shares in the company, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,591 shares of company stock worth $704,303. Corporate insiders own 1.90% of the company’s stock.

Darling Ingredients Trading Down 2.9%

Shares of Darling Ingredients stock opened at $65.63 on Friday. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $69.98. The company has a market capitalization of $10.36 billion, a P/E ratio of 17.69 and a beta of 1.02. The business has a 50 day moving average price of $61.79 and a 200 day moving average price of $59.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $1.01. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 earnings per share. Sell-side analysts anticipate that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lifted their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. 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 raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, TD Cowen upped their price target on Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Darling Ingredients 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.