Prudential Financial Inc. decreased its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 869,071 shares of the company’s stock after selling 68,440 shares during the period. Prudential Financial Inc. owned approximately 0.53% of Darling Ingredients worth $12,949,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in DAR. BlackRock Institutional Trust Company N.A. increased its position in shares of Darling Ingredients by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,213,832 shares of the company’s stock worth $55,496,000 after buying an additional 130,207 shares in the last quarter. State Street Corp boosted its stake in shares of Darling Ingredients by 3.0% in the first quarter. State Street Corp now owns 3,465,338 shares of the company’s stock valued at $45,638,000 after buying an additional 99,909 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Darling Ingredients by 11.6% in the first quarter. Royal Bank of Canada now owns 2,952,522 shares of the company’s stock valued at $38,887,000 after buying an additional 307,976 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Darling Ingredients by 11.7% in the first quarter. Geode Capital Management LLC now owns 1,130,041 shares of the company’s stock valued at $14,881,000 after buying an additional 117,984 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Darling Ingredients by 7.4% in the first quarter. Envestnet Asset Management Inc. now owns 431,824 shares of the company’s stock valued at $5,687,000 after buying an additional 29,600 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.
Darling Ingredients Inc. (NYSE:DAR) traded down 0.89% during midday trading on Monday, hitting $13.39. The stock had a trading volume of 220,271 shares. The stock has a market cap of $2.20 billion, a PE ratio of 20.35 and a beta of 1.77. The company’s 50 day moving average price is $13.79 and its 200-day moving average price is $14.27. Darling Ingredients Inc. has a 52-week low of $7.78 and a 52-week high of $15.93.
Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, August 11th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The business earned $877.50 million during the quarter, compared to analyst estimates of $875.85 million. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. Darling Ingredients’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. Analysts forecast that Darling Ingredients Inc. will post $0.56 EPS for the current fiscal year.
Several equities research analysts recently weighed in on DAR shares. Canaccord Genuity set a $18.00 price target on Darling Ingredients and gave the stock a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research cut Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, September 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Darling Ingredients in a research note on Friday, September 16th. TheStreet raised Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. reduced their price target on Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.94.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of Darling Ingredients stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total transaction of $159,638.44. Following the completion of the sale, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at approximately $1,640,781.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.75% of the company’s stock.
Darling Ingredients Company Profile
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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