Darling Ingredients Inc. (NYSE:DAR) Shares Bought by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. lifted its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 48.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,367 shares of the company’s stock after purchasing an additional 15,182 shares during the period. MidWestOne Financial Group Inc.’s holdings in Darling Ingredients were worth $1,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted 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 during the last quarter. Paloma Partners Management Co boosted its stake in Darling Ingredients by 2,140.4% during the 3rd quarter. Paloma Partners Management Co now owns 877,200 shares of the company’s stock worth $32,597,000 after purchasing an additional 838,047 shares during the period. Erste Asset Management GmbH purchased a new position in Darling Ingredients during the 3rd quarter worth $30,545,000. ING Groep NV increased its stake in Darling Ingredients by 244.1% in the third quarter. ING Groep NV now owns 810,100 shares of the company’s stock valued at $30,103,000 after purchasing an additional 574,700 shares during the period. Finally, FMR LLC raised its holdings in shares of Darling Ingredients by 17.3% in the third quarter. FMR LLC now owns 3,324,217 shares of the company’s stock valued at $123,528,000 after buying an additional 491,477 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DAR has been the subject of several analyst reports. TD Cowen reduced 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 price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.44.

Darling Ingredients Price Performance

DAR stock opened at $36.24 on Tuesday. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 22.37 and a beta of 1.19. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $38.90 and a 200-day moving average of $38.11. Darling Ingredients Inc. has a 12-month low of $32.67 and a 12-month high of $51.36.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results 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 firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts expect that Darling Ingredients Inc. will post 1.88 EPS for the current fiscal 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.