Bank of Montreal Can reduced its position in Darling Ingredients Inc. (NYSE:DAR) by 22.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 343,924 shares of the company’s stock after selling 97,761 shares during the period. Bank of Montreal Can owned approximately 0.21% of Darling Ingredients worth $5,414,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of DAR. Russell Investments Group Ltd. purchased a new position in shares of Darling Ingredients during the fourth quarter worth about $123,000. Neuburgh Advisers LLC raised its stake in Darling Ingredients by 4.9% in the first quarter. Neuburgh Advisers LLC now owns 9,350 shares of the company’s stock worth $136,000 after buying an additional 440 shares during the period. Victory Capital Management Inc. bought a new stake in Darling Ingredients during the first quarter worth approximately $146,000. Miles Capital Inc. raised its stake in Darling Ingredients by 0.3% in the first quarter. Miles Capital Inc. now owns 10,112 shares of the company’s stock worth $147,000 after buying an additional 28 shares during the period. Finally, World Asset Management Inc raised its stake in Darling Ingredients by 0.9% in the first quarter. World Asset Management Inc now owns 10,474 shares of the company’s stock worth $152,000 after buying an additional 94 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.
Darling Ingredients Inc. (NYSE DAR) opened at 15.60 on Friday. The company’s 50-day moving average price is $16.34 and its 200-day moving average price is $15.06. The firm has a market capitalization of $2.57 billion, a P/E ratio of 30.65 and a beta of 1.61. Darling Ingredients Inc. has a 1-year low of $11.51 and a 1-year high of $17.08.
Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.05. Darling Ingredients had a net margin of 2.39% and a return on equity of 3.99%. The business had revenue of $896.30 million for the quarter, compared to the consensus estimate of $890.91 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Darling Ingredients’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts expect that Darling Ingredients Inc. will post $0.44 earnings per share for the current fiscal year.
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DAR has been the topic of a number of analyst reports. TheStreet upgraded Darling Ingredients from a “c+” rating to a “b-” rating in a research report on Thursday, April 27th. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price target on shares of Darling Ingredients in a research report on Monday, May 8th. Zacks Investment Research lowered Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. BidaskClub upgraded Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, BMO Capital Markets restated a “buy” rating and set a $19.00 target price on shares of Darling Ingredients in a research report on Tuesday, May 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Darling Ingredients currently has a consensus rating of “Buy” and an average price target of $18.17.
In other news, CFO Patrick C. Lynch bought 18,337 shares of the stock in a transaction on Tuesday, May 23rd. The stock was bought at an average cost of $16.39 per share, for a total transaction of $300,543.43. Following the completion of the purchase, the chief financial officer now directly owns 147,295 shares in the company, valued at $2,414,165.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.95% of the stock is owned by company insiders.
Darling Ingredients Company Profile
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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