Darling Ingredients Inc. (NYSE:DAR) Shares Sold by Ritholtz Wealth Management

Posted by Defense World Staff on Mar 29th, 2023

Ritholtz Wealth Management cut its holdings in Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 13.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,110 shares of the company’s stock after selling 948 shares during the period. Ritholtz Wealth Management’s holdings in Darling Ingredients were worth $382,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Darling Ingredients by 2.1% during the 3rd quarter. BlackRock Inc. now owns 17,798,386 shares of the company’s stock worth $1,177,364,000 after buying an additional 369,517 shares during the last quarter. State Street Corp increased its holdings in shares of Darling Ingredients by 1.4% during the 2nd quarter. State Street Corp now owns 4,617,316 shares of the company’s stock worth $276,115,000 after buying an additional 61,858 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Darling Ingredients by 2.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 3,789,264 shares of the company’s stock worth $250,660,000 after buying an additional 102,734 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Darling Ingredients by 6.2% during the 3rd quarter. Impax Asset Management Group plc now owns 3,653,695 shares of the company’s stock worth $240,852,000 after buying an additional 213,915 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Darling Ingredients by 33.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,318,315 shares of the company’s stock worth $153,356,000 after buying an additional 575,661 shares during the last quarter. 90.90% of the stock is currently owned by institutional investors and hedge funds.

Darling Ingredients Stock Performance

NYSE:DAR opened at $55.33 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.53 and a quick ratio of 0.90. The firm has a 50-day moving average of $63.01 and a two-hundred day moving average of $67.42. The stock has a market cap of $8.85 billion, a P/E ratio of 12.30 and a beta of 1.26. Darling Ingredients Inc. has a 1-year low of $51.77 and a 1-year high of $87.59.

Insider Buying and Selling at Darling Ingredients

In other news, EVP Patrick Mcnutt acquired 900 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was bought at an average cost of $54.07 per share, with a total value of $48,663.00. Following the transaction, the executive vice president now directly owns 12,287 shares in the company, valued at approximately $664,358.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Charles L. Adair purchased 500 shares of Darling Ingredients stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $54.15 per share, with a total value of $27,075.00. Following the completion of the transaction, the director now owns 36,551 shares of the company’s stock, valued at approximately $1,979,236.65. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Patrick Mcnutt purchased 900 shares of Darling Ingredients stock in a transaction dated Wednesday, March 15th. The shares were bought at an average cost of $54.07 per share, for a total transaction of $48,663.00. Following the transaction, the executive vice president now directly owns 12,287 shares of the company’s stock, valued at approximately $664,358.09. The disclosure for this purchase can be found here. 2.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on DAR shares. Raymond James dropped their price objective on Darling Ingredients from $100.00 to $95.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 1st. Stifel Nicolaus upped their price target on shares of Darling Ingredients from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Stephens reaffirmed an “equal weight” rating and set a $75.00 price target on shares of Darling Ingredients in a research report on Tuesday, February 28th. Cowen decreased their price target on shares of Darling Ingredients from $79.00 to $73.00 in a research report on Tuesday, January 10th. Finally, Piper Sandler decreased their price target on shares of Darling Ingredients from $101.00 to $99.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.40.

Darling Ingredients Company Profile

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Darling Ingredients, Inc engages in the development and production of natural ingredients from edible and inedible bio-nutrients. It operates through the following segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. The Feed Ingredients segment includes ingredients business such as fats and proteins used cooking oil, trap grease and food residuals collection, the Rothsay ingredients, and the ingredients and specialty products.