Allspring Global Investments Holdings LLC Invests $9.05 Million in Darling Ingredients Inc. $DAR

Allspring Global Investments Holdings LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) in the 1st quarter, Holdings Channel.com reports. The firm bought 145,614 shares of the company’s stock, valued at approximately $9,051,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its stake in Darling Ingredients by 4.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,209,775 shares of the company’s stock worth $43,552,000 after purchasing an additional 56,662 shares during the period. Fideuram Asset Management Ireland dac bought a new stake in shares of Darling Ingredients during the fourth quarter valued at approximately $585,000. BNP Paribas Financial Markets raised its position in shares of Darling Ingredients by 26.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company’s stock valued at $47,179,000 after buying an additional 277,233 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Darling Ingredients by 28.3% in the fourth quarter. Ninety One UK Ltd now owns 518,796 shares of the company’s stock worth $18,677,000 after buying an additional 114,397 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Darling Ingredients by 75.6% during the third quarter. JPMorgan Chase & Co. now owns 601,263 shares of the company’s stock worth $18,561,000 after acquiring an additional 258,942 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the sale, the chief accounting officer owned 19,969 shares in the company, valued at approximately $1,275,819.41. This represents a 13.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DAR shares. Barclays raised their target price on shares of Darling Ingredients from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 2nd. TD Cowen dropped their price objective on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Stephens raised their price objective on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Weiss Ratings raised Darling Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 15th. Finally, Zacks Research upgraded Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.82.

Darling Ingredients Trading Up 1.3%

Shares of NYSE DAR opened at $64.77 on Thursday. 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 current ratio of 1.58 and a quick ratio of 1.03. The business’s 50 day moving average is $58.45 and its two-hundred day moving average is $55.00. The stock has a market capitalization of $10.29 billion, a P/E ratio of 46.93 and a beta of 1.04.

Darling Ingredients (NYSE:DAR) last posted 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. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. As a group, research analysts expect that Darling Ingredients Inc. will post 4.67 EPS for the current year.

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.