Darling Ingredients Inc. $DAR Stock: Sumitomo Mitsui Trust Group Inc. Raises Stake

Sumitomo Mitsui Trust Group Inc. boosted its position in Darling Ingredients Inc. (NYSE:DAR) by 69.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,473 shares of the company’s stock after purchasing an additional 19,428 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Darling Ingredients were worth $2,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DAR. BlackRock Inc. acquired a new stake in shares of Darling Ingredients in the second quarter valued at approximately $851,450,000. Dimensional Fund Advisors LP raised its holdings in shares of Darling Ingredients by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock valued at $498,927,000 after buying an additional 47,565 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Darling Ingredients during the second quarter worth approximately $168,348,000. Bank of America Corp DE acquired a new position in shares of Darling Ingredients during the second quarter worth approximately $129,371,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Darling Ingredients by 5.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,212,634 shares of the company’s stock worth $120,854,000 after buying an additional 120,674 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the sale, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. This represents a 18.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Joseph Manzi sold 1,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the transaction, the chief accounting officer directly owned 18,969 shares of the company’s stock, valued at approximately $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,591 shares of company stock worth $704,303 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

DAR has been the subject of a number of recent analyst reports. Barclays increased their price objective on Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings raised Darling Ingredients from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 12th. Stephens reiterated an “overweight” rating and set a $80.00 price target on shares of Darling Ingredients in a research report on Thursday, October 15th. UBS Group increased their price target on Darling Ingredients from $78.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen lowered Darling Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.80.

Darling Ingredients Stock Down 1.0%

DAR stock opened at $50.22 on Friday. The firm’s 50-day moving average is $61.04 and its two-hundred day moving average is $58.50. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 9.55 and a beta of 1.00. Darling Ingredients Inc. has a 52 week low of $31.65 and a 52 week high of $69.98. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). Darling Ingredients had a net margin of 12.48% and a return on equity of 17.76%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the business earned $0.12 earnings per share. On average, analysts forecast that Darling Ingredients Inc. will post 6.85 earnings per share for the current fiscal year.

Darling Ingredients Company Profile

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company’s businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.