Bank of Montreal Can Increases Position in Darling Ingredients Inc. (NYSE:DAR)

Bank of Montreal Can boosted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 127.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,252 shares of the company’s stock after purchasing an additional 62,958 shares during the quarter. Bank of Montreal Can owned approximately 0.07% of Darling Ingredients worth $4,239,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DAR. Dimensional Fund Advisors LP lifted its position in shares of Darling Ingredients by 52.4% during the 2nd 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 in the last quarter. Earnest Partners LLC lifted its holdings in Darling Ingredients by 14.0% during 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Darling Ingredients by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock valued at $50,210,000 after purchasing an additional 15,414 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Darling Ingredients by 0.5% during the third quarter. Handelsbanken Fonder AB now owns 1,204,023 shares of the company’s stock worth $44,741,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of 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 purchasing an additional 42,921 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Trading Down 5.7 %

Shares of DAR stock opened at $37.47 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a twelve month low of $32.67 and a twelve month high of $51.36. The company’s 50-day moving average price is $38.96 and its 200-day moving average price is $38.28. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 23.13 and a beta of 1.19.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.29). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. As a group, equities analysts predict that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

DAR has been the subject of several research reports. Piper Sandler cut their price objective 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. increased their price objective on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen decreased their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Finally, Jefferies Financial Group upped their target price 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.44.

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.