ABN AMRO Bank N.V. Grows Stock Position in Darling Ingredients Inc. $DAR

ABN AMRO Bank N.V. increased its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 45.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,974 shares of the company’s stock after purchasing an additional 74,148 shares during the quarter. ABN AMRO Bank N.V.’s holdings in Darling Ingredients were worth $14,745,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Darling Ingredients in the 4th quarter valued at about $94,211,000. No Street GP LP purchased a new position in shares of Darling Ingredients in the 3rd quarter valued at about $69,458,000. Assenagon Asset Management S.A. grew its position in shares of Darling Ingredients by 72.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock worth $129,388,000 after buying an additional 882,185 shares in the last quarter. Rubric Capital Management LP acquired a new position in shares of Darling Ingredients during the fourth quarter worth about $24,510,000. Finally, Amundi increased its stake in shares of Darling Ingredients by 177.7% during the fourth quarter. Amundi now owns 864,400 shares of the company’s stock worth $31,119,000 after buying an additional 553,081 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Insider Buying and Selling

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at approximately $1,275,819.41. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $52.48 on Friday. The firm has a market capitalization of $8.34 billion, a P/E ratio of 38.03 and a beta of 1.02. Darling Ingredients Inc. has a one year low of $29.15 and a one year high of $66.02. The company’s fifty day moving average is $59.14 and its two-hundred day moving average is $51.81. 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 posted its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.27. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) EPS. Analysts forecast that Darling Ingredients Inc. will post 4.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stephens raised their target price on shares of Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Barclays started coverage on shares of Darling Ingredients in a research report on Monday, June 22nd. They issued an “equal weight” rating and a $58.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective 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, Scotiabank boosted 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 note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.45.

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.