Advisors Asset Management Inc. Purchases 1,759 Shares of Darling Ingredients Inc. $DAR

Advisors Asset Management Inc. raised its position in Darling Ingredients Inc. (NYSE:DAR) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,577 shares of the company’s stock after purchasing an additional 1,759 shares during the quarter. Advisors Asset Management Inc.’s holdings in Darling Ingredients were worth $1,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Darling Ingredients in the 1st quarter valued at approximately $559,000. Cetera Investment Advisers raised its holdings in shares of Darling Ingredients by 7.7% in the first quarter. Cetera Investment Advisers now owns 19,160 shares of the company’s stock valued at $599,000 after purchasing an additional 1,367 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Darling Ingredients by 3.2% in the first quarter. Mackenzie Financial Corp now owns 25,583 shares of the company’s stock valued at $799,000 after purchasing an additional 805 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Darling Ingredients in the first quarter worth $462,000. Finally, Jefferies Financial Group Inc. acquired a new position in Darling Ingredients during the first quarter worth $217,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DAR. UBS Group set a $50.00 price target on shares of Darling Ingredients in a research note on Monday, November 3rd. JPMorgan Chase & Co. initiated coverage on Darling Ingredients in a research report on Wednesday, August 20th. They issued an “overweight” rating and a $43.00 target price on the stock. Jefferies Financial Group increased their price target on Darling Ingredients from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Bank of America started coverage on Darling Ingredients in a research note on Wednesday, October 8th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Piper Sandler dropped their price objective on Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.11.

Darling Ingredients Stock Performance

NYSE DAR opened at $36.61 on Monday. The stock has a market cap of $5.79 billion, a PE ratio of 54.64, a P/E/G ratio of 2.35 and a beta of 1.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. The firm has a 50-day moving average of $32.69 and a 200-day moving average of $33.50. Darling Ingredients Inc. has a 52-week low of $26.00 and a 52-week high of $42.15.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Darling Ingredients had a net margin of 1.84% and a return on equity of 2.41%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Darling Ingredients Inc. will post 2.81 EPS for the current year.

Darling Ingredients Company Profile

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.