Darling Ingredients Inc. (NYSE:DAR) Shares Purchased by State Street Corp

State Street Corp increased its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,357,815 shares of the company’s stock after buying an additional 289,407 shares during the quarter. State Street Corp owned about 3.37% of Darling Ingredients worth $199,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DAR. Dimensional Fund Advisors LP raised its stake in Darling Ingredients by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock valued at $192,445,000 after buying an additional 1,800,809 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Darling Ingredients by 14.0% during the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock worth $140,725,000 after buying an additional 470,170 shares in the last quarter. FMR LLC boosted its position in shares of Darling Ingredients by 17.3% during the 3rd quarter. FMR LLC now owns 3,324,217 shares of the company’s stock worth $123,528,000 after purchasing an additional 491,477 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Darling Ingredients by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock worth $50,210,000 after purchasing an additional 15,414 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Darling Ingredients by 0.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,204,023 shares of the company’s stock valued at $44,741,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DAR. Piper Sandler dropped their price objective on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Jefferies Financial Group boosted their price objective on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. TD Cowen dropped their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Darling Ingredients Trading Down 4.8 %

Shares of DAR opened at $35.48 on Friday. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36. The company has a market capitalization of $5.64 billion, a PE ratio of 21.90 and a beta of 1.19. The stock has a fifty day moving average of $38.92 and a two-hundred day moving average of $38.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $0.77 earnings per share. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, analysts forecast that Darling Ingredients Inc. will post 1.88 EPS for the current year.

Darling Ingredients 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.