Spouting Rock Asset Management LLC cut its stake in shares of Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,722 shares of the company’s stock after selling 2,662 shares during the period. Darling Ingredients makes up about 3.1% of Spouting Rock Asset Management LLC’s investment portfolio, making the stock its 6th biggest position. Spouting Rock Asset Management LLC’s holdings in Darling Ingredients were worth $3,930,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in DAR. Davis Selected Advisers increased its stake in shares of Darling Ingredients by 116.0% during the 3rd quarter. Davis Selected Advisers now owns 3,184,695 shares of the company’s stock valued at $228,980,000 after acquiring an additional 1,710,095 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Darling Ingredients in the 3rd quarter worth about $69,390,000. Scout Investments Inc. raised its stake in shares of Darling Ingredients by 49.1% in the 4th quarter. Scout Investments Inc. now owns 2,082,501 shares of the company’s stock valued at $144,296,000 after acquiring an additional 686,201 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Darling Ingredients by 280.3% during the 3rd quarter. Wellington Management Group LLP now owns 681,013 shares of the company’s stock worth $48,965,000 after purchasing an additional 501,960 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Darling Ingredients by 72.6% in the 3rd quarter. Schroder Investment Management Group now owns 1,182,802 shares of the company’s stock valued at $85,044,000 after buying an additional 497,508 shares in the last quarter. 92.17% of the stock is owned by institutional investors.
In other news, EVP Rick A. Elrod sold 54,413 shares of the firm’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $76.04, for a total transaction of $4,137,564.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bullock sold 720 shares of the stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $79.03, for a total value of $56,901.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,005 shares of company stock valued at $4,679,904. Company insiders own 2.62% of the company’s stock.
Darling Ingredients (NYSE:DAR – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $1.14 EPS for the quarter, meeting the consensus estimate of $1.14. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.29 billion. Darling Ingredients had a net margin of 13.73% and a return on equity of 20.29%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. As a group, sell-side analysts expect that Darling Ingredients Inc. will post 5.2 earnings per share for the current year.
Several analysts recently weighed in on DAR shares. Cowen started coverage on Darling Ingredients in a report on Monday, April 25th. They set a “market perform” rating and a $80.00 price target for the company. Piper Sandler decreased their price target on shares of Darling Ingredients from $107.00 to $97.00 in a research note on Tuesday, January 25th. Roth Capital reaffirmed a “buy” rating on shares of Darling Ingredients in a research note on Monday, March 14th. Cowen began coverage on shares of Darling Ingredients in a report on Monday, April 25th. They issued a “market perform” rating and a $80.00 target price on the stock. Finally, Stephens lifted their price target on Darling Ingredients from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Darling Ingredients presently has an average rating of “Buy” and an average price target of $95.82.
Darling Ingredients Company Profile (Get Rating)
Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. 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.
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