Perpetual Ltd Acquires 456,482 Shares of Darling Ingredients Inc. (NYSE:DAR)

Perpetual Ltd lifted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 2,200.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 477,225 shares of the company’s stock after buying an additional 456,482 shares during the quarter. Perpetual Ltd’s holdings in Darling Ingredients were worth $16,078,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Algert Global LLC boosted its position in Darling Ingredients by 266.6% during the third quarter. Algert Global LLC now owns 103,871 shares of the company’s stock valued at $3,860,000 after buying an additional 75,540 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Darling Ingredients in the 3rd quarter valued at about $30,545,000. Natixis Advisors LLC boosted its holdings in Darling Ingredients by 23.2% during the 3rd quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock valued at $4,010,000 after acquiring an additional 20,323 shares during the period. Jennison Associates LLC grew its position in Darling Ingredients by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock worth $40,635,000 after acquiring an additional 42,921 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Darling Ingredients by 203.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,844,297 shares of the company’s stock valued at $62,134,000 after purchasing an additional 1,235,985 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler cut their target price on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. increased their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, 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 report on Friday, October 25th. Two research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Darling Ingredients Stock Down 1.1 %

Shares of Darling Ingredients stock opened at $36.70 on Tuesday. The company’s fifty day simple moving average is $36.90 and its two-hundred day simple moving average is $37.56. Darling Ingredients Inc. has a 12-month low of $32.55 and a 12-month high of $48.39. 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 company has a market cap of $5.84 billion, a P/E ratio of 22.66 and a beta of 1.21.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Darling Ingredients’s quarterly revenue was down 12.5% compared to the same quarter last year. Research analysts anticipate that Darling Ingredients Inc. will post 1.6 EPS for the current year.

Darling Ingredients Company 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.