Darling Ingredients Inc (DAR) CFO Patrick C. Lynch Acquires 18,337 Shares
Darling Ingredients Inc (NYSE:DAR) CFO Patrick C. Lynch purchased 18,337 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were acquired at an average cost of $16.39 per share, for a total transaction of $300,543.43. Following the completion of the transaction, the chief financial officer now directly owns 147,295 shares of the company’s stock, valued at approximately $2,414,165.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Darling Ingredients Inc (NYSE:DAR) traded down 1.51% on Wednesday, reaching $16.31. The company’s stock had a trading volume of 1,783,948 shares. The company has a 50 day moving average price of $15.12 and a 200 day moving average price of $13.80. The company has a market cap of $2.69 billion, a P/E ratio of 25.13 and a beta of 1.76. Darling Ingredients Inc has a 52-week low of $11.51 and a 52-week high of $16.61.
Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Darling Ingredients had a net margin of 4.40% and a return on equity of 7.34%. The firm had revenue of $880.10 million during the quarter, compared to analyst estimates of $842.52 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts anticipate that Darling Ingredients Inc will post $0.56 earnings per share for the current fiscal year.
DAR has been the topic of a number of recent research reports. Zacks Investment Research downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, January 30th. BMO Capital Markets boosted their target price on Darling Ingredients from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, March 2nd. Robert W. Baird initiated coverage on Darling Ingredients in a research note on Wednesday, March 22nd. They issued an “outperform” rating and a $19.00 target price on the stock. Roth Capital set a $17.00 target price on Darling Ingredients and gave the company a “buy” rating in a research note on Monday, March 20th. Finally, Canaccord Genuity restated a “buy” rating and issued a $18.00 target price on shares of Darling Ingredients in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Darling Ingredients presently has an average rating of “Buy” and an average price target of $17.71.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Darling Ingredients by 7,798.7% in the first quarter. BlackRock Inc. now owns 20,437,790 shares of the company’s stock worth $296,758,000 after buying an additional 20,179,041 shares in the last quarter. Vanguard Group Inc. increased its stake in Darling Ingredients by 6.3% in the first quarter. Vanguard Group Inc. now owns 15,418,060 shares of the company’s stock worth $223,870,000 after buying an additional 910,712 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Darling Ingredients by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,770,238 shares of the company’s stock worth $185,423,000 after buying an additional 802,072 shares in the last quarter. FMR LLC increased its stake in Darling Ingredients by 2.9% in the first quarter. FMR LLC now owns 8,222,065 shares of the company’s stock worth $119,384,000 after buying an additional 228,849 shares in the last quarter. Finally, State Street Corp increased its stake in Darling Ingredients by 5.5% in the first quarter. State Street Corp now owns 4,139,438 shares of the company’s stock worth $60,110,000 after buying an additional 214,226 shares in the last quarter. 95.29% of the stock is currently owned by institutional investors and hedge funds.
About Darling Ingredients
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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