BI Asset Management Fondsmaeglerselskab A S Lowers Position in Darling Ingredients Inc. (NYSE:DAR)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 76.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,032 shares of the company’s stock after selling 30,151 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Darling Ingredients were worth $420,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Darling Ingredients in the 4th quarter valued at about $94,650,000. Balyasny Asset Management L.P. purchased a new position in Darling Ingredients in the fourth quarter worth $92,661,000. Gates Capital Management Inc. acquired a new position in shares of Darling Ingredients during the fourth quarter worth $88,885,000. Bank of New York Mellon Corp lifted its holdings in shares of Darling Ingredients by 24.9% during the 1st quarter. Bank of New York Mellon Corp now owns 4,279,247 shares of the company’s stock valued at $199,028,000 after purchasing an additional 851,886 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Darling Ingredients by 55.0% in the 1st quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock worth $72,683,000 after purchasing an additional 554,512 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DAR has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. TD Cowen decreased their price objective on shares of Darling Ingredients from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, June 13th. Citigroup raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, June 12th. Scotiabank dropped their price objective on shares of Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. Finally, Stifel Nicolaus dropped their price target on Darling Ingredients from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.45.

Darling Ingredients Stock Performance

DAR opened at $37.96 on Friday. The stock has a market cap of $6.07 billion, a P/E ratio of 11.37 and a beta of 1.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.67 and a quick ratio of 0.96. The firm has a fifty day moving average price of $39.27 and a 200 day moving average price of $42.63. Darling Ingredients Inc. has a 1 year low of $33.94 and a 1 year high of $71.60.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Darling Ingredients had a net margin of 8.46% and a return on equity of 12.22%. The business 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 firm earned $1.16 EPS. Darling Ingredients’s revenue for the quarter was down 20.7% on a year-over-year basis. Equities research analysts anticipate that Darling Ingredients Inc. will post 2.65 earnings per share 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.