Sumitomo Mitsui Trust Group Inc. Sells 13,649 Shares of Darling Ingredients Inc. (NYSE:DAR)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,010 shares of the company’s stock after selling 13,649 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Darling Ingredients were worth $1,338,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Darling Ingredients by 173.9% during the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock worth $31,000 after acquiring an additional 527 shares during the period. Signaturefd LLC boosted its position in Darling Ingredients by 75.0% during the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 386 shares during the period. Blue Trust Inc. increased its holdings in shares of Darling Ingredients by 38.0% in the third quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after purchasing an additional 288 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Darling Ingredients in the third quarter valued at about $58,000. Finally, Farther Finance Advisors LLC raised its position in shares of Darling Ingredients by 69.2% in the third quarter. Farther Finance Advisors LLC now owns 1,854 shares of the company’s stock valued at $69,000 after purchasing an additional 758 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

DAR stock opened at $41.83 on Wednesday. The company’s 50-day moving average price is $38.06 and its two-hundred day moving average price is $38.59. The firm has a market cap of $6.65 billion, a P/E ratio of 25.82 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $51.36.

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

Analysts Set New Price Targets

Several research firms have weighed in on DAR. TD Cowen lowered their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Jefferies Financial Group upped their price objective on Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler reduced their target price on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.44.

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.