Truist Financial Corp Trims Stake in Darling Ingredients Inc. (NYSE:DAR)

Truist Financial Corp lowered its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,058 shares of the company’s stock after selling 7,169 shares during the quarter. Truist Financial Corp owned about 0.06% of Darling Ingredients worth $4,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Corbyn Investment Management Inc. MD increased its position in shares of Darling Ingredients by 33.1% during the fourth quarter. Corbyn Investment Management Inc. MD now owns 29,221 shares of the company’s stock valued at $1,456,000 after buying an additional 7,275 shares during the period. Sycomore Asset Management purchased a new stake in Darling Ingredients in the fourth quarter worth about $1,249,000. Bfsg LLC purchased a new stake in Darling Ingredients in the fourth quarter worth about $189,000. Private Management Group Inc. grew its holdings in Darling Ingredients by 39.5% in the fourth quarter. Private Management Group Inc. now owns 450,317 shares of the company’s stock worth $22,444,000 after purchasing an additional 127,535 shares during the period. Finally, South Dakota Investment Council grew its holdings in Darling Ingredients by 86.3% in the fourth quarter. South Dakota Investment Council now owns 71,975 shares of the company’s stock worth $3,587,000 after purchasing an additional 33,332 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Up 0.4 %

Shares of Darling Ingredients stock opened at $42.82 on Monday. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 12.82 and a beta of 1.31. The company’s 50 day moving average is $44.05 and its 200 day moving average is $44.42. Darling Ingredients Inc. has a twelve month low of $38.97 and a twelve month high of $71.60. The company has a quick ratio of 1.10, a current ratio of 4.20 and a debt-to-equity ratio of 0.16.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a net margin of 8.46% and a return on equity of 12.27%. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. Research analysts anticipate that Darling Ingredients Inc. will post 3.08 EPS for the current year.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, Director Kurt Stoffel purchased 8,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average cost of $41.62 per share, for a total transaction of $332,960.00. Following the completion of the transaction, the director now owns 10,571 shares of the company’s stock, valued at $439,965.02. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.62% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DAR shares. Scotiabank cut their price objective on shares of Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. Citigroup upped their price objective on shares of Darling Ingredients from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. cut their price objective on shares of Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. Stephens dropped their target price on shares of Darling Ingredients from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus dropped their target price on shares of Darling Ingredients from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Darling Ingredients has a consensus rating of “Moderate Buy” and an average target price of $72.55.

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.