SG Americas Securities LLC Grows Position in Darling Ingredients Inc. $DAR

SG Americas Securities LLC raised its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 858.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,313 shares of the company’s stock after purchasing an additional 151,656 shares during the quarter. SG Americas Securities LLC owned about 0.11% of Darling Ingredients worth $10,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Darling Ingredients by 4.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,209,775 shares of the company’s stock valued at $43,552,000 after acquiring an additional 56,662 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in Darling Ingredients during the 4th quarter valued at about $585,000. Fisher Asset Management LLC increased 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 purchasing an additional 36,593 shares during the period. JPMorgan Chase & Co. increased 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 purchasing an additional 258,942 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Darling Ingredients by 134.4% in the third quarter. Citigroup Inc. now owns 431,336 shares of the company’s stock worth $13,315,000 after purchasing an additional 247,311 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

DAR opened at $52.48 on Friday. The firm has a fifty day moving average price of $59.14 and a 200 day moving average price of $51.81. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $66.02. The stock has a market cap of $8.34 billion, a P/E ratio of 38.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.58 and a quick ratio of 1.03.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned ($0.16) earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Darling Ingredients Inc. will post 4.59 earnings per share for the current year.

Insider Activity

In other news, CAO Joseph Manzi sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the sale, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. This trade represents a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DAR has been the subject of a number of research reports. Wall Street Zen downgraded Darling Ingredients from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered shares of Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Barclays began coverage on shares of Darling Ingredients in a research note on Monday. They set an “equal weight” rating and a $58.00 price objective for the company. UBS Group raised their target price on shares of Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Scotiabank upped their price target on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.45.

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.