Raymond James & Associates Sells 345,618 Shares of Darling Ingredients Inc. (NYSE:DAR)

Raymond James & Associates lowered its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 50.4% in the third quarter, Holdings Channel reports. The firm owned 339,641 shares of the company’s stock after selling 345,618 shares during the period. Raymond James & Associates’ holdings in Darling Ingredients were worth $12,621,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Darling Ingredients by 173.9% in the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after buying an additional 527 shares during the period. Blue Trust Inc. raised its holdings in Darling Ingredients by 38.0% during the third quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock worth $38,000 after acquiring an additional 288 shares in the last quarter. Quarry LP raised its stake in shares of Darling Ingredients by 893.8% during the 2nd quarter. Quarry LP now owns 2,584 shares of the company’s stock worth $95,000 after purchasing an additional 2,324 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Darling Ingredients by 21.9% in the 1st quarter. Covestor Ltd now owns 3,206 shares of the company’s stock valued at $149,000 after buying an additional 576 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Darling Ingredients by 31,754.5% during the first quarter. Manchester Capital Management LLC now owns 3,504 shares of the company’s stock worth $163,000 after buying an additional 3,493 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Insider Activity at Darling Ingredients

In other news, EVP Robert W. Day bought 2,532 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average cost of $39.37 per share, with a total value of $99,684.84. Following the transaction, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at approximately $496,337.59. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen decreased their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Piper Sandler dropped their price objective on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Scotiabank dropped their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Jefferies Financial Group upped their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.90.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $39.11 on Monday. The stock has a market capitalization of $6.25 billion, a PE ratio of 11.71 and a beta of 1.24. The business has a fifty day moving average price of $37.60 and a two-hundred day moving average price of $38.87. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36. 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 (NYSE:DAR) last released its 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). Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. As a group, equities analysts predict that Darling Ingredients Inc. will post 2.26 earnings per share 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.