Van ECK Associates Corp Cuts Stake in Darling Ingredients Inc. (NYSE:DAR)

Van ECK Associates Corp decreased its stake in Darling Ingredients Inc. (NYSE:DAR) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,551 shares of the company’s stock after selling 28,293 shares during the period. Van ECK Associates Corp owned approximately 0.26% of Darling Ingredients worth $15,857,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC grew its position in Darling Ingredients by 173.9% in the third quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after acquiring an additional 527 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Darling Ingredients by 75.0% in the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 386 shares during the period. Blue Trust Inc. grew its holdings in Darling Ingredients by 38.0% during the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after purchasing an additional 288 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Darling Ingredients by 69.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,854 shares of the company’s stock worth $69,000 after buying an additional 758 shares during the period. Finally, Quarry LP lifted its holdings in Darling Ingredients by 893.8% in the 2nd quarter. Quarry LP now owns 2,584 shares of the company’s stock worth $95,000 after buying an additional 2,324 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DAR. Scotiabank lowered their target price on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen lowered their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Piper Sandler cut their target price on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Jefferies Financial Group raised their price target 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. 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 analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.60.

Darling Ingredients Stock Up 0.6 %

DAR stock opened at $40.03 on Wednesday. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 24.71 and a beta of 1.23. Darling Ingredients Inc. has a 1-year low of $32.67 and a 1-year high of $51.36. The firm has a fifty day moving average price of $37.56 and a two-hundred day moving average price of $38.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company earned $0.77 EPS. Darling Ingredients’s quarterly revenue was down 12.5% on a year-over-year basis. Research analysts predict that Darling Ingredients Inc. will post 1.89 EPS for the current year.

About Darling Ingredients

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.