Janney Montgomery Scott LLC Makes New Investment in Darling Ingredients Inc. $DAR

Janney Montgomery Scott LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,795 shares of the company’s stock, valued at approximately $544,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Darling Ingredients by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company’s stock worth $554,196,000 after buying an additional 512,219 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Darling Ingredients by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,019,406 shares of the company’s stock valued at $288,704,000 after buying an additional 242,857 shares during the last quarter. Davis Selected Advisers boosted its holdings in shares of Darling Ingredients by 15.8% in the fourth quarter. Davis Selected Advisers now owns 2,842,306 shares of the company’s stock valued at $102,324,000 after acquiring an additional 388,366 shares during the period. Geode Capital Management LLC grew its position in shares of Darling Ingredients by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 2,839,649 shares of the company’s stock worth $102,249,000 after acquiring an additional 76,151 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Darling Ingredients by 3.2% during the fourth quarter. Morgan Stanley now owns 2,649,084 shares of the company’s stock worth $95,367,000 after acquiring an additional 82,616 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Performance

NYSE:DAR opened at $60.53 on Thursday. The firm’s fifty day moving average price is $58.42 and its 200 day moving average price is $54.04. 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 firm has a market cap of $9.62 billion, a price-to-earnings ratio of 43.86 and a beta of 1.04.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.83 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned ($0.16) EPS. Darling Ingredients’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect 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 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 transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DAR has been the subject of several research reports. TD Cowen reduced their price target on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Wall Street Zen upgraded shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Scotiabank upped their target price on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Barclays increased their target price on shares of Darling Ingredients from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird raised their price target on Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.82.

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.