Darling Ingredients Inc. (NYSE:DAR) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,991 shares of the company’s stock after selling 774 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Darling Ingredients were worth $2,229,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DAR. NBC Securities Inc. increased its stake in shares of Darling Ingredients by 12.9% in the third quarter. NBC Securities Inc. now owns 23,183 shares of the company’s stock worth $861,000 after buying an additional 2,655 shares during the last quarter. Creative Planning increased its stake in shares of Darling Ingredients by 21.9% in the third quarter. Creative Planning now owns 22,354 shares of the company’s stock worth $831,000 after buying an additional 4,021 shares during the last quarter. Harrington Investments INC increased its stake in shares of Darling Ingredients by 5.1% in the third quarter. Harrington Investments INC now owns 14,424 shares of the company’s stock worth $536,000 after buying an additional 700 shares during the last quarter. Guinness Atkinson Asset Management Inc increased its stake in shares of Darling Ingredients by 11.1% in the third quarter. Guinness Atkinson Asset Management Inc now owns 4,960 shares of the company’s stock worth $184,000 after buying an additional 496 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Darling Ingredients by 173.9% in the third quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock worth $31,000 after buying an additional 527 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DAR. Piper Sandler dropped their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. TD Cowen dropped their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Scotiabank lowered their target price on shares of 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. Finally, Jefferies Financial Group lowered their target price on shares of Darling Ingredients from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.70.

Insider Transactions at Darling Ingredients

In other news, EVP Robert W. Day purchased 2,532 shares of the stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $39.37 per share, for a total transaction of $99,684.84. Following the completion of the transaction, the executive vice president now owns 12,607 shares of the company’s stock, valued at approximately $496,337.59. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.62% of the company’s stock.

Darling Ingredients Stock Up 2.7 %

Darling Ingredients stock opened at $37.22 on Friday. The company has a 50-day simple moving average of $37.63 and a 200-day simple moving average of $39.28. The firm has a market capitalization of $5.95 billion, a P/E ratio of 11.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57. Darling Ingredients Inc. has a one year low of $32.67 and a one year high of $51.36.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.39 by $0.10. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, equities analysts expect that Darling Ingredients Inc. will post 2.26 earnings per share 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.