Darling Ingredients Inc. $DAR Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in Darling Ingredients Inc. (NYSE:DAR) by 246.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 144,263 shares of the company’s stock after buying an additional 102,664 shares during the quarter. Hsbc Holdings PLC’s holdings in Darling Ingredients were worth $7,953,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DAR. BlackRock Inc. acquired a new position in Darling Ingredients during the second quarter worth about $851,450,000. AIA Group Ltd acquired a new position in shares of Darling Ingredients during the 1st quarter worth approximately $4,453,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Darling Ingredients in the fourth quarter valued at approximately $585,000. BNP Paribas Financial Markets increased its holdings in shares of Darling Ingredients by 26.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company’s stock valued at $47,179,000 after purchasing an additional 277,233 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Darling Ingredients by 7,554.6% in the first quarter. Strs Ohio now owns 286,740 shares of the company’s stock valued at $17,735,000 after purchasing an additional 282,994 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DAR shares. Barclays boosted their price objective on Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. TD Cowen boosted their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Buying and Selling

In related news, EVP Patrick McNutt sold 8,000 shares of Darling Ingredients stock in a transaction on Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the transaction, the executive vice president directly owned 35,777 shares in the company, valued at approximately $2,400,278.93. This trade represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Joseph Manzi sold 1,000 shares of the business’s 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 of the company’s stock, valued at $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,591 shares of company stock valued at $704,303 in the last three months. 1.90% of the stock is currently owned by insiders.

Darling Ingredients Trading Up 0.4%

NYSE DAR opened at $67.40 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 18.17 and a beta of 1.02. The firm has a 50 day simple moving average of $62.75 and a 200-day simple moving average of $59.78. Darling Ingredients Inc. has a one year low of $29.15 and a one year high of $69.98.

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

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.