Envestnet Asset Management Inc. Has $3.41 Million Stake in Darling Ingredients Inc (DAR)
Envestnet Asset Management Inc. reduced its stake in Darling Ingredients Inc (NYSE:DAR) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,766 shares of the company’s stock after selling 7,026 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Darling Ingredients worth $3,412,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Shufro Rose & Co. LLC raised its stake in Darling Ingredients by 0.4% in the second quarter. Shufro Rose & Co. LLC now owns 27,457 shares of the company’s stock valued at $432,000 after buying an additional 100 shares in the last quarter. World Asset Management Inc raised its stake in Darling Ingredients by 2.3% in the second quarter. World Asset Management Inc now owns 10,711 shares of the company’s stock valued at $169,000 after buying an additional 237 shares in the last quarter. Amalgamated Bank raised its stake in Darling Ingredients by 1.4% in the second quarter. Amalgamated Bank now owns 22,413 shares of the company’s stock valued at $353,000 after buying an additional 304 shares in the last quarter. US Bancorp DE raised its stake in Darling Ingredients by 1.9% in the second quarter. US Bancorp DE now owns 27,259 shares of the company’s stock valued at $429,000 after buying an additional 500 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Darling Ingredients by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 13,214 shares of the company’s stock valued at $208,000 after buying an additional 663 shares in the last quarter. Institutional investors and hedge funds own 98.06% of the company’s stock.
A number of analysts have weighed in on DAR shares. Robert W. Baird restated an “outperform” rating and issued a $20.00 price target on shares of Darling Ingredients in a research note on Wednesday, August 23rd. Canaccord Genuity restated a “buy” rating and issued a $18.00 price target on shares of Darling Ingredients in a research note on Monday, September 25th. J P Morgan Chase & Co cut Darling Ingredients from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $18.00 in a research note on Friday, October 6th. Zacks Investment Research upgraded Darling Ingredients from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, October 11th. Finally, Roth Capital set a $20.00 price target on Darling Ingredients and gave the company a “buy” rating in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $19.33.
Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $937.70 million for the quarter, compared to analysts’ expectations of $870.50 million. Darling Ingredients had a return on equity of 2.96% and a net margin of 1.76%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. research analysts forecast that Darling Ingredients Inc will post 0.24 EPS for the current fiscal year.
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Darling Ingredients Profile
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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