Perpetual Ltd Sells 3,660 Shares of Darling Ingredients Inc. (NYSE:DAR)

by · The Markets Daily

Perpetual Ltd reduced its position in shares of Darling Ingredients Inc. (NYSE:DAR – Free Report) by 15.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,743 shares of the company’s stock after selling 3,660 shares during the quarter. Perpetual Ltd’s holdings in Darling Ingredients were worth $771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in Darling Ingredients by 12.2% in the fourth quarter. Quarry LP now owns 5,998 shares of the company’s stock valued at $299,000 after acquiring an additional 654 shares during the last quarter. Vancity Investment Management Ltd boosted its holdings in Darling Ingredients by 32.3% in the fourth quarter. Vancity Investment Management Ltd now owns 18,162 shares of the company’s stock valued at $905,000 after acquiring an additional 4,429 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in Darling Ingredients by 56.9% in the fourth quarter. V Square Quantitative Management LLC now owns 1,997 shares of the company’s stock valued at $100,000 after acquiring an additional 724 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Darling Ingredients by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,595,089 shares of the company’s stock valued at $79,499,000 after acquiring an additional 213,763 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Darling Ingredients by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 23,494 shares of the company’s stock valued at $1,171,000 after acquiring an additional 341 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on DAR. Piper Sandler reduced their target price on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday. Scotiabank reduced their target price on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Jefferies Financial Group reduced their target price on Darling Ingredients from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 7th. Finally, TD Cowen dropped their price target on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.70.

Check Out Our Latest Stock Report on DAR

Insider Transactions at Darling Ingredients

In other news, EVP Robert W. Day bought 2,532 shares of the stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $39.37 per share, with a total value of $99,684.84. Following the completion of the transaction, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at $496,337.59. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.62% of the stock is owned by insiders.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $36.98 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.57 and a debt-to-equity ratio of 0.95. Darling Ingredients Inc. has a twelve month low of $32.67 and a twelve month high of $51.36. The stock’s 50 day moving average is $37.61 and its 200-day moving average is $39.53. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 16.22 and a beta of 1.24.

Darling Ingredients (NYSE:DAR – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. Darling Ingredients’s revenue for the quarter was down 17.2% on a year-over-year basis. Sell-side analysts forecast that Darling Ingredients Inc. will post 2.26 EPS for the current fiscal year.

Darling Ingredients Profile

(Free Report)

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.

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