Darling Ingredients Inc. $DAR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 18.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,244,446 shares of the company’s stock after selling 515,626 shares during the quarter. Bank of New York Mellon Corp’s holdings in Darling Ingredients were worth $80,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DAR. Goldman Sachs Group Inc. increased its stake in shares of Darling Ingredients by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock valued at $20,119,000 after acquiring an additional 93,408 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Darling Ingredients by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock valued at $18,768,000 after acquiring an additional 58,925 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Darling Ingredients during the 1st quarter valued at about $205,000. M&T Bank Corp increased its stake in shares of Darling Ingredients by 11.2% during the 2nd quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock valued at $318,000 after acquiring an additional 847 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Darling Ingredients by 5.0% during the 2nd quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock valued at $25,705,000 after acquiring an additional 32,553 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Stock Down 2.0%

DAR opened at $58.26 on Tuesday. The firm has a 50 day moving average price of $61.08 and a 200 day moving average price of $50.02. The company has a market cap of $9.26 billion, a PE ratio of 42.22 and a beta of 1.02. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $66.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.58.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company earned ($0.16) earnings per share. Darling Ingredients’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Darling Ingredients Inc. will post 4.68 earnings per share for the current year.

Insider Transactions at Darling Ingredients

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the sale, the chief accounting officer owned 19,969 shares of the company’s stock, valued at $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Darling Ingredients from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, May 12th. Piper Sandler increased their target price on shares of Darling Ingredients from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Scotiabank increased their target price on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group increased their target price on shares of Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.00.

Darling Ingredients 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.