Darling Ingredients Inc. $DAR Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 42.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 53,287 shares of the company’s stock after selling 39,077 shares during the period. Royal Bank of Canada’s holdings in Darling Ingredients were worth $3,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Darling Ingredients by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock worth $20,119,000 after acquiring an additional 93,408 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Darling Ingredients by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock valued at $18,768,000 after acquiring an additional 58,925 shares during the period. Focus Partners Wealth acquired a new position in Darling Ingredients in the first quarter valued at approximately $205,000. M&T Bank Corp grew its stake in shares of Darling Ingredients by 11.2% during the 2nd quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock worth $318,000 after purchasing an additional 847 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Darling Ingredients by 5.0% during the 2nd quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock worth $25,705,000 after purchasing an additional 32,553 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $66.86 on Friday. The company has a fifty day simple moving average of $58.93 and a 200-day simple moving average of $57.49. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 18.02 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. Darling Ingredients Inc. has a 52-week low of $29.15 and a 52-week high of $67.68.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.40 by $1.01. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts anticipate that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, EVP Nicholas James Kemphaus sold 1,591 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the sale, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. This represents a 4.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles L. Adair bought 1,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $60.97 per share, with a total value of $60,970.00. Following the completion of the purchase, the director directly owned 51,690 shares in the company, valued at approximately $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stephens boosted their target price on shares of Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Barclays lifted their price objective on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Scotiabank upped their price objective on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group increased their target price on shares of Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Darling Ingredients currently has an average rating of “Moderate Buy” and an average price target of $69.00.

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.