Darling Ingredients Inc. (NYSE:DAR) Stock Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp cut its position in Darling Ingredients Inc. (NYSE:DAR) by 6.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 414,551 shares of the company’s stock after selling 28,293 shares during the quarter. Van ECK Associates Corp’s holdings in Darling Ingredients were worth $15,857,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Management Group Inc. increased its stake in shares of Darling Ingredients by 1.2% in the third quarter. Private Management Group Inc. now owns 812,433 shares of the company’s stock valued at $30,190,000 after purchasing an additional 9,982 shares during the period. Farther Finance Advisors LLC grew its holdings in Darling Ingredients by 69.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,854 shares of the company’s stock worth $69,000 after buying an additional 758 shares in the last quarter. US Bancorp DE increased its position in Darling Ingredients by 34.9% in the 3rd quarter. US Bancorp DE now owns 98,888 shares of the company’s stock valued at $3,675,000 after acquiring an additional 25,607 shares during the period. Nisa Investment Advisors LLC raised its stake in Darling Ingredients by 2.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the company’s stock valued at $446,000 after acquiring an additional 310 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Darling Ingredients by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 18,560 shares of the company’s stock worth $689,000 after purchasing an additional 1,250 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DAR. Scotiabank cut their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Piper Sandler dropped their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Jefferies Financial Group increased their price objective on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 25th. TD Cowen cut their target price on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their price target on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.60.

Darling Ingredients Price Performance

NYSE DAR opened at $40.03 on Wednesday. The company has a 50 day simple moving average of $37.56 and a 200-day simple moving average of $38.70. Darling Ingredients Inc. has a 52-week low of $32.67 and a 52-week high of $51.36. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 24.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $0.77 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year. Equities research analysts predict that Darling Ingredients Inc. will post 1.89 earnings per share for the current fiscal 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.