Steele Capital Management Inc. Purchases Shares of 37,600 Darling Ingredients Inc. (NYSE:DAR)

Steele Capital Management Inc. bought a new position in Darling Ingredients Inc. (NYSE:DAR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 37,600 shares of the company’s stock, valued at approximately $1,874,000.

A number of other large investors have also recently added to or reduced their stakes in DAR. Illinois Municipal Retirement Fund boosted its holdings in Darling Ingredients by 111.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 30,212 shares of the company’s stock worth $1,506,000 after purchasing an additional 15,933 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Darling Ingredients by 28.9% in the 4th quarter. Jennison Associates LLC now owns 1,008,227 shares of the company’s stock valued at $50,250,000 after acquiring an additional 226,134 shares in the last quarter. Raymond James & Associates raised its holdings in Darling Ingredients by 106.9% during the third quarter. Raymond James & Associates now owns 818,468 shares of the company’s stock worth $42,724,000 after acquiring an additional 422,822 shares in the last quarter. Nordea Investment Management AB boosted its position in Darling Ingredients by 5.9% during the fourth quarter. Nordea Investment Management AB now owns 629,795 shares of the company’s stock valued at $31,301,000 after purchasing an additional 35,290 shares during the last quarter. Finally, South Dakota Investment Council increased its position in shares of Darling Ingredients by 86.3% during the 4th quarter. South Dakota Investment Council now owns 71,975 shares of the company’s stock worth $3,587,000 after purchasing an additional 33,332 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Price Performance

DAR stock traded down $0.47 during midday trading on Monday, reaching $44.21. The company had a trading volume of 2,134,113 shares, compared to its average volume of 2,102,245. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 13.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.20 and a quick ratio of 1.10. Darling Ingredients Inc. has a 1-year low of $38.97 and a 1-year high of $71.60. The stock has a 50 day moving average price of $44.01 and a 200-day moving average price of $44.53.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Darling Ingredients had a net margin of 8.46% and a return on equity of 12.27%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue was down 20.7% compared to the same quarter last year. Equities research analysts expect that Darling Ingredients Inc. will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DAR shares. Stephens decreased their target price on shares of Darling Ingredients from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. lowered their price objective on shares of Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Scotiabank cut their target price on shares of Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. BMO Capital Markets reduced their target price on shares of Darling Ingredients from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Stifel Nicolaus lowered their target price on Darling Ingredients from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.55.

Insider Buying and Selling

In related news, Director Kurt Stoffel purchased 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of $41.62 per share, with a total value of $332,960.00. Following the acquisition, the director now owns 10,571 shares of the company’s stock, valued at approximately $439,965.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.26% of the stock is owned by corporate insiders.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.