Bank of New York Mellon Corp Cuts Stake in Darling Ingredients Inc. $DAR

Bank of New York Mellon Corp lessened its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 29.9% during the 1st quarter, Holdings Channel reports. The firm owned 1,572,761 shares of the company’s stock after selling 671,685 shares during the period. Bank of New York Mellon Corp’s holdings in Darling Ingredients were worth $97,275,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DAR. Danske Bank A S purchased a new position in Darling Ingredients during the third quarter valued at $25,000. Allworth Financial LP lifted its stake in Darling Ingredients by 227.2% in the 4th quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after purchasing an additional 509 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 174 shares in the last quarter. Litman Gregory Wealth Management LLC bought a new position in shares of Darling Ingredients during the 4th quarter valued at about $29,000. Finally, Leonteq Securities AG bought a new position in shares of Darling Ingredients during the 4th quarter valued at about $35,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $63.61 on Tuesday. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $66.02. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $58.39 and a 200-day moving average price of $54.60. The firm has a market capitalization of $10.11 billion, a PE ratio of 46.09 and a beta of 1.04.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 4.67 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DAR. Jefferies Financial Group lifted their target price on Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Weiss Ratings upgraded Darling Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. UBS Group raised their target price on shares of Darling Ingredients from $58.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Stephens upped their price target on shares of Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $67.82.

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.