DNB Asset Management AS Has $35.77 Million Stock Holdings in Darling Ingredients Inc. $DAR

DNB Asset Management AS grew its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,158,758 shares of the company’s stock after purchasing an additional 180,038 shares during the period. DNB Asset Management AS owned approximately 0.73% of Darling Ingredients worth $35,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings 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 during the last quarter. Sound Income Strategies LLC bought a new position in Darling Ingredients in the 3rd quarter valued at about $29,000. Abich Financial Wealth Management LLC acquired a new position in Darling Ingredients during the 3rd quarter valued at about $37,000. EverSource Wealth Advisors LLC boosted its stake in Darling Ingredients by 681.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,016 shares of the company’s stock valued at $39,000 after purchasing an additional 886 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in 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 purchasing an additional 877 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on DAR. Piper Sandler lifted their target price on Darling Ingredients from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $66.00 target price on shares of Darling Ingredients in a research note on Friday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, BMO Capital Markets boosted their target price on Darling Ingredients from $45.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Darling Ingredients presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.60.

Darling Ingredients Stock Performance

Shares of DAR stock opened at $52.96 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 3.86. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 135.79, a P/E/G ratio of 0.55 and a beta of 1.27. Darling Ingredients Inc. has a 52 week low of $26.00 and a 52 week high of $53.71. The firm’s 50-day simple moving average is $43.27 and its two-hundred day simple moving average is $36.61.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.35 earnings per share (EPS) 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. As a group, equities analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current year.

Darling Ingredients 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.