Principal Financial Group Inc. Has $58.35 Million Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Principal Financial Group Inc. lessened its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,570,131 shares of the company’s stock after selling 75,258 shares during the quarter. Principal Financial Group Inc.’s holdings in Darling Ingredients were worth $58,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new position in shares of Darling Ingredients during the 3rd quarter worth approximately $30,545,000. Algert Global LLC increased its holdings in shares of Darling Ingredients by 266.6% in the third quarter. Algert Global LLC now owns 103,871 shares of the company’s stock valued at $3,860,000 after purchasing an additional 75,540 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Darling Ingredients by 23.2% in the third quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock valued at $4,010,000 after purchasing an additional 20,323 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Darling Ingredients by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock worth $40,635,000 after buying an additional 42,921 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Darling Ingredients by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock worth $50,210,000 after buying an additional 15,414 shares during the period. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

DAR opened at $33.06 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41. Darling Ingredients Inc. has a 52-week low of $32.67 and a 52-week high of $51.12. The firm has a market cap of $5.26 billion, a P/E ratio of 20.41 and a beta of 1.19. The business’s fifty day moving average is $38.61 and its 200-day moving average is $37.79.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The company’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. Sell-side analysts expect that Darling Ingredients Inc. will post 1.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on DAR. Piper Sandler lowered their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. TD Cowen lowered their target price 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. JPMorgan Chase & Co. boosted their price target on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.44.

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.