Truist Financial Corp Sells 8,464 Shares of Darling Ingredients Inc. (NYSE:DAR)

Truist Financial Corp reduced its position in Darling Ingredients Inc. (NYSE:DAR) by 12.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 61,485 shares of the company’s stock after selling 8,464 shares during the period. Truist Financial Corp’s holdings in Darling Ingredients were worth $2,260,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Darling Ingredients by 52.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock worth $192,445,000 after purchasing an additional 1,800,809 shares in the last quarter. Gates Capital Management Inc. bought a new stake in Darling Ingredients in the fourth quarter valued at approximately $88,885,000. Jennison Associates LLC lifted its position in Darling Ingredients by 55.0% in the first quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock valued at $72,683,000 after purchasing an additional 554,512 shares during the last quarter. Earnest Partners LLC lifted its position in Darling Ingredients by 14.0% in the second quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock valued at $140,725,000 after purchasing an additional 470,170 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Darling Ingredients in the second quarter valued at approximately $15,406,000. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DAR. Jefferies Financial Group lowered their price objective on Darling Ingredients from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Monday. TD Cowen decreased their target price on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, Scotiabank decreased their target price on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.56.

Insider Buying and Selling at Darling Ingredients

In other news, EVP Robert W. Day acquired 2,532 shares of Darling Ingredients stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $39.37 per share, for a total transaction of $99,684.84. Following the purchase, the executive vice president now owns 12,607 shares in the company, valued at $496,337.59. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is owned by company insiders.

Darling Ingredients Trading Down 0.7 %

NYSE:DAR opened at $36.00 on Friday. The firm has a market capitalization of $5.75 billion, a P/E ratio of 10.78 and a beta of 1.24. 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 Inc. has a one year low of $32.67 and a one year high of $51.36. The company’s 50-day simple moving average is $37.62 and its 200 day simple moving average is $39.59.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The company’s revenue was down 17.2% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. As a group, analysts forecast that Darling Ingredients Inc. will post 2.45 EPS for the current fiscal 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.