Sumitomo Mitsui Trust Group Inc. Trims Stake in Darling Ingredients Inc. $DAR

Sumitomo Mitsui Trust Group Inc. lowered its position in Darling Ingredients Inc. (NYSE:DAR) by 32.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,945 shares of the company’s stock after selling 11,848 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Darling Ingredients were worth $1,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Danske Bank A S purchased a new position in Darling Ingredients during the third quarter valued at $25,000. Allworth Financial LP grew its position in shares of Darling Ingredients by 227.2% in the 4th 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. SJS Investment Consulting Inc. grew its position in shares of Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after buying an additional 174 shares during the period. Litman Gregory Wealth Management LLC bought a new position in shares of Darling Ingredients in the 4th quarter worth about $29,000. Finally, Leonteq Securities AG purchased a new position in Darling Ingredients during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Joseph Manzi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. The trade was a 13.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Darling Ingredients Stock Down 2.1%

NYSE:DAR opened at $60.53 on Thursday. The firm has a market cap of $9.62 billion, a P/E ratio of 43.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.58. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $66.02. The firm has a 50-day simple moving average of $58.42 and a two-hundred day simple moving average of $54.04.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.27. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Analysts predict that Darling Ingredients Inc. will post 4.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Zacks Research raised Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. Scotiabank upped their price target on Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group raised their price objective on Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Darling Ingredients currently has an average rating of “Moderate Buy” and a consensus price target of $67.82.

About Darling Ingredients

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.