Swiss National Bank Reduces Position in Darling Ingredients Inc. (NYSE:DAR)

Swiss National Bank decreased its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 497,400 shares of the company’s stock after selling 15,300 shares during the quarter. Swiss National Bank’s holdings in Darling Ingredients were worth $24,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New York Life Investment Management LLC increased its position in shares of Darling Ingredients by 2.4% in the 4th quarter. New York Life Investment Management LLC now owns 17,901 shares of the company’s stock valued at $892,000 after acquiring an additional 426 shares during the period. Howe & Rusling Inc. increased its holdings in shares of Darling Ingredients by 15.6% in the fourth quarter. Howe & Rusling Inc. now owns 9,022 shares of the company’s stock valued at $450,000 after purchasing an additional 1,219 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Darling Ingredients by 50.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the company’s stock worth $75,000 after purchasing an additional 500 shares during the last quarter. Steele Capital Management Inc. acquired a new stake in shares of Darling Ingredients during the fourth quarter worth about $1,874,000. Finally, Russell Investments Group Ltd. boosted its position in Darling Ingredients by 75.9% in the fourth quarter. Russell Investments Group Ltd. now owns 287,082 shares of the company’s stock valued at $14,338,000 after buying an additional 123,839 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, Director Kurt Stoffel purchased 8,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $41.62 per share, with a total value of $332,960.00. Following the completion of the purchase, the director now owns 10,571 shares in the company, valued at approximately $439,965.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.26% of the stock is currently owned by corporate insiders.

Darling Ingredients Trading Down 0.5 %

Shares of DAR stock opened at $44.28 on Thursday. The stock has a 50 day simple moving average of $44.17 and a 200-day simple moving average of $44.44. Darling Ingredients Inc. has a 1-year low of $38.97 and a 1-year high of $71.60. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 13.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.20 and a quick ratio of 1.10.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a net margin of 8.46% and a return on equity of 12.27%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 earnings per share. On average, equities research analysts expect that Darling Ingredients Inc. will post 3.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DAR. Citigroup lifted their price objective on shares of Darling Ingredients from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their target price on shares of Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets cut their price target on Darling Ingredients from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Stifel Nicolaus decreased their price objective on Darling Ingredients from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 8th. Finally, Stephens dropped their target price on Darling Ingredients from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.55.

About Darling Ingredients

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. 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.