Neuberger Berman Group LLC Cuts Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Posted by on Jun 9th, 2023

Neuberger Berman Group LLC decreased its position in Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,581 shares of the company’s stock after selling 8,632 shares during the quarter. Neuberger Berman Group LLC owned 0.12% of Darling Ingredients worth $11,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. WFA of San Diego LLC purchased a new position in shares of Darling Ingredients in the 4th quarter valued at approximately $31,000. Belpointe Asset Management LLC acquired a new position in shares of Darling Ingredients during the 4th quarter valued at $39,000. Standard Family Office LLC purchased a new stake in shares of Darling Ingredients in the third quarter worth about $53,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Darling Ingredients during the third quarter valued at approximately $70,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Darling Ingredients in the 3rd quarter worth $73,000. 90.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DAR shares. StockNews.com cut Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday. Robert W. Baird cut their price objective on shares of Darling Ingredients from $108.00 to $106.00 and set an “outperform” rating on the stock in a research note on Thursday, April 13th. UBS Group lifted their price target on Darling Ingredients from $82.00 to $85.00 in a research report on Monday, May 15th. Piper Sandler upped their price target on Darling Ingredients from $94.00 to $95.00 in a report on Tuesday. Finally, Raymond James dropped their target price on shares of Darling Ingredients from $100.00 to $95.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Insider Activity

In related news, EVP Patrick Mcnutt bought 900 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average price of $54.07 per share, for a total transaction of $48,663.00. Following the completion of the acquisition, the executive vice president now directly owns 12,287 shares of the company’s stock, valued at $664,358.09. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Darling Ingredients news, EVP Patrick Mcnutt bought 900 shares of Darling Ingredients stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average price of $54.07 per share, for a total transaction of $48,663.00. Following the completion of the purchase, the executive vice president now directly owns 12,287 shares of the company’s stock, valued at $664,358.09. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles L. Adair bought 500 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were bought 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 $1,979,236.65. The disclosure for this purchase can be found here. Insiders bought a total of 4,400 shares of company stock worth $266,958 in the last three months. Company insiders own 2.62% of the company’s stock.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $63.18 on Friday. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 14.04 and a beta of 1.23. Darling Ingredients Inc. has a twelve month low of $51.77 and a twelve month high of $85.23. The company has a quick ratio of 0.98, a current ratio of 1.73 and a debt-to-equity ratio of 1.11. The company’s fifty day moving average is $60.56 and its 200 day moving average is $62.49.

Darling Ingredients Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Darling Ingredients (NYSE:DAR)

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