Assenagon Asset Management S.A. Purchases 882,185 Shares of Darling Ingredients Inc. $DAR

Assenagon Asset Management S.A. lifted its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 72.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,091,960 shares of the company’s stock after buying an additional 882,185 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Darling Ingredients were worth $129,388,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DAR. Coldstream Capital Management Inc. raised its holdings in Darling Ingredients by 3.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company’s stock valued at $277,000 after acquiring an additional 267 shares during the period. Public Employees Retirement System of Ohio boosted its stake 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 worth $1,508,000 after acquiring an additional 304 shares during the period. NBC Securities Inc. boosted its stake in shares of Darling Ingredients by 1.3% in the fourth quarter. NBC Securities Inc. now owns 24,318 shares of the company’s stock worth $875,000 after acquiring an additional 318 shares during the period. Union Bancaire Privee UBP SA grew its position in shares of Darling Ingredients by 1.7% during the fourth 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 in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Darling Ingredients by 21.2% during the fourth quarter. UMB Bank n.a. now owns 2,026 shares of the company’s stock worth $73,000 after purchasing an additional 354 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Analysts Set New Price Targets

DAR has been the subject of several recent analyst reports. Barclays initiated coverage on Darling Ingredients in a research note on Monday. They issued an “equal weight” rating and a $58.00 price target for the company. 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 report on Wednesday, April 22nd. Wall Street Zen lowered shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.45.

Insider Buying and Selling at Darling Ingredients

In other 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Trading Down 0.2%

DAR stock opened at $52.70 on Thursday. The firm has a fifty day moving average price of $59.38 and a 200 day moving average price of $51.69. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week 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. The firm has a market cap of $8.37 billion, a PE ratio of 38.19 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. Darling Ingredients’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Darling Ingredients Inc. will post 4.68 earnings per share for the current fiscal year.

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.