Assenagon Asset Management S.A. Buys 56,662 Shares of Darling Ingredients Inc. $DAR

Assenagon Asset Management S.A. increased its stake in Darling Ingredients Inc. (NYSE:DAR) by 4.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,209,775 shares of the company’s stock after acquiring an additional 56,662 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Darling Ingredients were worth $43,552,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DAR. Public Employees Retirement System of Ohio boosted its holdings in shares of Darling Ingredients by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 48,856 shares of the company’s stock valued at $1,508,000 after purchasing an additional 304 shares during the period. Union Bancaire Privee UBP SA increased its holdings in Darling Ingredients by 1.7% during the 4th quarter. Union Bancaire Privee UBP SA now owns 20,457 shares of the company’s stock worth $731,000 after purchasing an additional 342 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Darling Ingredients by 0.4% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 109,497 shares of the company’s stock valued at $3,356,000 after purchasing an additional 449 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Darling Ingredients by 37.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,668 shares of the company’s stock worth $51,000 after buying an additional 455 shares during the period. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Darling Ingredients by 0.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 53,460 shares of the company’s stock worth $1,639,000 after buying an additional 460 shares during the period. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Stock Up 1.0%

Darling Ingredients stock opened at $58.69 on Thursday. Darling Ingredients Inc. has a 1-year low of $26.00 and a 1-year high of $59.36. The business has a fifty day moving average price of $50.15 and a 200-day moving average price of $39.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 0.99. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 150.48, a PEG ratio of 0.45 and a beta of 1.24.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.35 EPS for the quarter. The company had revenue of $1.71 billion during the quarter. Darling Ingredients had a return on equity of 2.36% and a net margin of 1.02%. Equities research analysts forecast that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Insider Activity

In other news, CEO Randall C. Stuewe sold 20,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $52.12, for a total transaction of $1,042,400.00. Following the transaction, the chief executive officer owned 1,117,085 shares in the company, valued at $58,222,470.20. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on DAR shares. Scotiabank restated an “outperform” rating and set a $61.00 price target on shares of Darling Ingredients in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upped their price objective on shares of Darling Ingredients from $59.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday. BMO Capital Markets increased their target price on shares of Darling Ingredients from $45.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Robert W. Baird set a $64.00 target price on shares of Darling Ingredients in a research report on Friday, February 13th. Finally, Piper Sandler boosted their price target on shares of Darling Ingredients from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.90.

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.