Congress Asset Management Co. MA cut its stake in Darling Ingredients Inc (NYSE:DAR) by 9.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,615 shares of the company’s stock after selling 17,890 shares during the period. Congress Asset Management Co. MA owned about 0.11% of Darling Ingredients worth $3,398,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in DAR. Nuveen Asset Management LLC purchased a new position in Darling Ingredients in the second quarter worth $19,813,000. Bank of New York Mellon Corp grew its position in Darling Ingredients by 22.4% in the second quarter. Bank of New York Mellon Corp now owns 4,649,446 shares of the company’s stock worth $92,477,000 after acquiring an additional 852,104 shares in the last quarter. ValueAct Holdings L.P. boosted its position in Darling Ingredients by 51.2% during the second quarter. ValueAct Holdings L.P. now owns 1,727,528 shares of the company’s stock valued at $34,361,000 after buying an additional 585,000 shares during the period. Schroder Investment Management Group boosted its position in Darling Ingredients by 38.8% during the second quarter. Schroder Investment Management Group now owns 1,518,186 shares of the company’s stock valued at $30,197,000 after buying an additional 424,248 shares during the period. Finally, Royal Bank of Canada boosted its position in Darling Ingredients by 15.6% during the second quarter. Royal Bank of Canada now owns 2,957,586 shares of the company’s stock valued at $58,826,000 after buying an additional 399,444 shares during the period. Institutional investors own 97.10% of the company’s stock.
DAR has been the subject of several analyst reports. ValuEngine lowered shares of Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Zacks Investment Research lowered shares of Darling Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, October 25th.
Shares of NYSE:DAR traded up $1.63 during midday trading on Thursday, hitting $21.88. 53,217 shares of the stock traded hands, compared to its average volume of 809,716. The stock has a market capitalization of $3.32 billion, a PE ratio of 24.58 and a beta of 1.20. The business’s 50 day moving average is $19.20 and its two-hundred day moving average is $19.69. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.72. Darling Ingredients Inc has a one year low of $17.99 and a one year high of $22.62.
Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $842.05 million for the quarter, compared to the consensus estimate of $834.01 million. Darling Ingredients had a net margin of 2.37% and a return on equity of 3.35%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share. As a group, sell-side analysts forecast that Darling Ingredients Inc will post 0.66 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. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.
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