Norges Bank Makes New $94.21 Million Investment in Darling Ingredients Inc. $DAR

Norges Bank bought a new position in Darling Ingredients Inc. (NYSE:DAR) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,616,968 shares of the company’s stock, valued at approximately $94,211,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Darling Ingredients by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company’s stock worth $554,196,000 after purchasing an additional 512,219 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Darling Ingredients by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,776,549 shares of the company’s stock worth $240,058,000 after purchasing an additional 22,055 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Darling Ingredients by 6.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,122,104 shares of the company’s stock worth $158,119,000 after purchasing an additional 287,665 shares during the last quarter. Davis Selected Advisers increased its position in Darling Ingredients by 15.8% in the 4th quarter. Davis Selected Advisers now owns 2,842,306 shares of the company’s stock worth $102,324,000 after purchasing an additional 388,366 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Darling Ingredients by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,839,649 shares of the company’s stock worth $102,249,000 after purchasing an additional 76,151 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares of the company’s stock, valued at $1,275,819.41. This represents a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $59.42 on Friday. The business has a 50 day moving average price of $61.09 and a 200 day moving average price of $49.75. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 43.06 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts predict that Darling Ingredients Inc. will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DAR has been the topic of several research reports. Piper Sandler upped their target price on Darling Ingredients from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. upped their price target on Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. UBS Group upped their price target on Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Zacks Research downgraded Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, TD Cowen upped their price target on Darling Ingredients from $72.00 to $76.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

About Darling Ingredients

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.