Norges Bank Buys Shares of 2,616,968 Darling Ingredients Inc. $DAR

Norges Bank bought a new stake in Darling Ingredients Inc. (NYSE:DAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,616,968 shares of the company’s stock, valued at approximately $94,211,000. Norges Bank owned 1.65% of Darling Ingredients as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Darling Ingredients by 4.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,209,775 shares of the company’s stock valued at $43,552,000 after buying an additional 56,662 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Darling Ingredients by 94.2% in the third quarter. Fisher Asset Management LLC now owns 75,442 shares of the company’s stock valued at $2,329,000 after buying an additional 36,593 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Darling Ingredients by 75.6% in the third quarter. JPMorgan Chase & Co. now owns 601,263 shares of the company’s stock valued at $18,561,000 after buying an additional 258,942 shares during the period. Fideuram Asset Management Ireland dac acquired a new stake in shares of Darling Ingredients in the fourth quarter valued at $585,000. Finally, Citigroup Inc. lifted its holdings in shares of Darling Ingredients by 134.4% in the third quarter. Citigroup Inc. now owns 431,336 shares of the company’s stock valued at $13,315,000 after buying an additional 247,311 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on Darling Ingredients from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Stephens upped their target price on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. BMO Capital Markets upped their target price on Darling Ingredients from $45.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Robert W. Baird upped their target price on Darling Ingredients from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. upped their target price on Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Darling Ingredients has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Insiders Place Their Bets

In related news, CAO Joseph Manzi sold 3,000 shares of the company’s 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 transaction, the chief accounting officer directly owned 19,969 shares of the company’s stock, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Darling Ingredients Stock Down 2.1%

NYSE:DAR opened at $59.42 on Friday. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 43.06 and a beta of 1.02. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $66.02. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average price is $61.09 and its 200 day moving average price is $49.75.

Darling Ingredients (NYSE:DAR) last posted its quarterly 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. The firm had revenue of $1.55 billion for 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%.Darling Ingredients’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.16) earnings per share. On average, sell-side analysts forecast that Darling Ingredients Inc. will post 4.68 earnings per share for the current fiscal 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.