Sumitomo Mitsui Trust Group Inc. Sells 11,848 Shares of Darling Ingredients Inc. $DAR

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Darling Ingredients Inc. (NYSE:DAR) by 32.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,945 shares of the company’s stock after selling 11,848 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Darling Ingredients were worth $1,543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SJS Investment Consulting Inc. boosted its holdings in shares of Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $26,000 after acquiring an additional 174 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of Darling Ingredients by 2.6% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company’s stock valued at $472,000 after purchasing an additional 196 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Darling Ingredients by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company’s stock valued at $481,000 after purchasing an additional 220 shares during the period. Coldstream Capital Management Inc. lifted its position in Darling Ingredients by 3.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company’s stock valued at $277,000 after purchasing an additional 267 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Darling Ingredients by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 48,856 shares of the company’s stock worth $1,508,000 after purchasing an additional 304 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

Shares of NYSE DAR opened at $60.53 on Thursday. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $66.02. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 43.86 and a beta of 1.04. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $58.42 and a 200 day moving average of $54.04.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company posted ($0.16) EPS. The company’s revenue was up 12.3% compared to the same quarter last year. On average, research analysts anticipate that Darling Ingredients Inc. will post 4.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DAR. Scotiabank lifted their target price on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Zacks Research raised Darling Ingredients from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd. Weiss Ratings downgraded Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. UBS Group lifted their price objective on Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Barclays upped their price objective on Darling Ingredients from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Darling Ingredients currently has a consensus rating of “Moderate Buy” and an average target price of $67.82.

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.