Fifth Third Bancorp Acquires 128,323 Shares of Darling Ingredients Inc. $DAR

Fifth Third Bancorp grew its holdings in Darling Ingredients Inc. (NYSE:DAR) by 8,295.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,870 shares of the company’s stock after buying an additional 128,323 shares during the period. Fifth Third Bancorp’s holdings in Darling Ingredients were worth $8,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Danske Bank A S acquired a new position in shares of Darling Ingredients during the 3rd quarter worth approximately $25,000. Allworth Financial LP raised its stake in Darling Ingredients by 227.2% in the 4th quarter. Allworth Financial LP now owns 733 shares of the company’s stock valued at $26,000 after acquiring an additional 509 shares during the period. SJS Investment Consulting Inc. lifted its holdings in Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in Darling Ingredients during the 4th quarter valued at $29,000. Finally, Leonteq Securities AG bought a new position in Darling Ingredients during the fourth quarter worth $35,000. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $60.53 on Thursday. 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 company has a market cap of $9.62 billion, a PE ratio of 43.86 and a beta of 1.04. The company has a 50 day moving average of $58.42 and a 200-day moving average of $54.04. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $66.02.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the firm posted ($0.16) earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 4.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen decreased their price objective on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised their target price on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Stephens lifted their target price on shares of Darling Ingredients from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Jefferies Financial Group upped their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group increased their price target on shares of Darling Ingredients from $58.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.82.

Insider Activity

In other news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the transaction, the chief accounting officer owned 19,969 shares in the company, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

About Darling Ingredients

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.