Bank of New York Mellon Corp Sells 671,685 Shares of Darling Ingredients Inc. $DAR

Bank of New York Mellon Corp lessened its position in Darling Ingredients Inc. (NYSE:DAR) by 29.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,572,761 shares of the company’s stock after selling 671,685 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Darling Ingredients worth $97,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DAR. Norges Bank bought a new position in Darling Ingredients during the 4th quarter valued at approximately $94,211,000. No Street GP LP bought a new stake in Darling Ingredients in the third quarter worth $69,458,000. Assenagon Asset Management S.A. grew its stake in shares of Darling Ingredients by 72.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock worth $129,388,000 after acquiring an additional 882,185 shares during the last quarter. Rubric Capital Management LP purchased a new stake in shares of Darling Ingredients in the fourth quarter worth $24,510,000. Finally, Amundi increased its holdings in shares of Darling Ingredients by 177.7% during the fourth quarter. Amundi now owns 864,400 shares of the company’s stock valued at $31,119,000 after acquiring an additional 553,081 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $63.61 on Tuesday. The firm’s 50 day moving average price is $58.39 and its 200-day moving average price is $54.60. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $10.11 billion, a PE ratio of 46.09 and a beta of 1.04. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02.

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

Analysts Set New Price Targets

Several research analysts have issued reports on DAR shares. UBS Group lifted their target price on shares of Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Jefferies Financial Group increased their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Zacks Research raised Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Finally, Weiss Ratings raised Darling Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 15th. 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 stock. Based on data from MarketBeat, Darling Ingredients has a consensus rating of “Moderate Buy” and an average target price of $67.82.

Insider Buying and Selling at Darling Ingredients

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 stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.

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.