Envestnet Asset Management Inc. Has $17.67 Million Stock Position in Darling Ingredients Inc. $DAR

Envestnet Asset Management Inc. lowered its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 1.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 572,361 shares of the company’s stock after selling 10,284 shares during the quarter. Envestnet Asset Management Inc. owned about 0.36% of Darling Ingredients worth $17,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. grew its stake in Darling Ingredients by 609.8% during the second quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock worth $25,000 after buying an additional 561 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Darling Ingredients during the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Darling Ingredients by 681.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,016 shares of the company’s stock worth $39,000 after acquiring an additional 886 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Darling Ingredients by 138.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,511 shares of the company’s stock worth $47,000 after acquiring an additional 877 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new position in Darling Ingredients in the third quarter valued at approximately $65,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Darling Ingredients Trading Up 1.3%

Shares of Darling Ingredients stock opened at $50.96 on Friday. The company has a market capitalization of $8.06 billion, a P/E ratio of 130.67, a price-to-earnings-growth ratio of 0.59 and a beta of 1.27. The stock has a fifty day simple moving average of $40.33 and a 200 day simple moving average of $35.36. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $52.88. The company has a current ratio of 3.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.35 earnings per share for the quarter. Darling Ingredients had a net margin of 1.02% and a return on equity of 2.44%. The company had revenue of $1.71 billion during the quarter. On average, sell-side analysts anticipate that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DAR has been the topic of a number of research analyst reports. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. TD Cowen raised their price objective on Darling Ingredients from $45.00 to $58.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler boosted their price objective on Darling Ingredients from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets increased their target price on Darling Ingredients from $45.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday. Finally, UBS Group set a $50.00 price target on Darling Ingredients in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.00.

Darling Ingredients Company 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.