Victory Capital Management Inc. Has $23.82 Million Stake in Darling Ingredients Inc. (NYSE:DAR)

Victory Capital Management Inc. lifted its stake in shares of Darling Ingredients Inc. (NYSE:DARGet Rating) by 11.8% during the first quarter, Holdings Channel.com reports. The firm owned 319,801 shares of the company’s stock after buying an additional 33,757 shares during the period. Victory Capital Management Inc.’s holdings in Darling Ingredients were worth $23,824,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its position in shares of Darling Ingredients by 4.6% during the fourth quarter. Handelsbanken Fonder AB now owns 5,188,906 shares of the company’s stock worth $359,539,000 after purchasing an additional 227,466 shares in the last quarter. State Street Corp lifted its holdings in Darling Ingredients by 1.3% in the fourth quarter. State Street Corp now owns 4,346,799 shares of the company’s stock valued at $301,190,000 after buying an additional 54,726 shares during the period. Marshall Wace LLP lifted its holdings in Darling Ingredients by 1,257.1% in the fourth quarter. Marshall Wace LLP now owns 4,126,968 shares of the company’s stock valued at $285,958,000 after buying an additional 3,822,875 shares during the period. Impax Asset Management Group plc lifted its holdings in Darling Ingredients by 38.3% in the fourth quarter. Impax Asset Management Group plc now owns 4,044,181 shares of the company’s stock valued at $279,274,000 after buying an additional 1,120,368 shares during the period. Finally, Artemis Investment Management LLP lifted its holdings in Darling Ingredients by 25.8% in the first quarter. Artemis Investment Management LLP now owns 2,496,559 shares of the company’s stock valued at $200,392,000 after buying an additional 511,366 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DAR shares. StockNews.com lowered shares of Darling Ingredients from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Piper Sandler increased their price objective on shares of Darling Ingredients to $98.00 in a report on Monday, July 25th. Cowen lowered their target price on shares of Darling Ingredients to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Cowen started coverage on shares of Darling Ingredients in a research note on Monday, April 25th. They issued a “market perform” rating and a $80.00 target price for the company. Finally, Stephens upped their target price on shares of Darling Ingredients from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.33.

Darling Ingredients Stock Up 1.4 %

Shares of DAR stock opened at $71.92 on Thursday. The firm has a fifty day moving average of $68.17 and a 200-day moving average of $71.39. The company has a quick ratio of 0.94, a current ratio of 1.55 and a debt-to-equity ratio of 0.48. Darling Ingredients Inc. has a 12-month low of $55.71 and a 12-month high of $87.59. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 17.41 and a beta of 1.24.

Darling Ingredients (NYSE:DARGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. Darling Ingredients had a net margin of 13.58% and a return on equity of 20.76%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts predict that Darling Ingredients Inc. will post 5.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Darling Ingredients news, Director Charles L. Adair bought 500 shares of Darling Ingredients stock in a transaction that occurred on Tuesday, May 24th. The stock was acquired at an average price of $73.95 per share, for a total transaction of $36,975.00. Following the completion of the acquisition, the director now owns 36,051 shares of the company’s stock, valued at approximately $2,665,971.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Darling Ingredients news, EVP Der Velden Jan Van sold 17,087 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $76.21, for a total value of $1,302,200.27. Following the completion of the sale, the executive vice president now owns 67,708 shares in the company, valued at $5,160,026.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles L. Adair purchased 500 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was purchased at an average price of $73.95 per share, with a total value of $36,975.00. Following the purchase, the director now owns 36,051 shares of the company’s stock, valued at $2,665,971.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 67,333 shares of company stock worth $5,347,539. 2.62% of the stock is owned by insiders.

About Darling Ingredients

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Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.

Further Reading

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Institutional Ownership by Quarter for Darling Ingredients (NYSE:DAR)

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