Envestnet Asset Management Inc. Has $15.33 Million Stake in Darling Ingredients Inc. (NYSE:DAR)

Posted by Defense World Staff on Sep 4th, 2023

Envestnet Asset Management Inc. boosted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR – Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 262,474 shares of the company’s stock after buying an additional 24,509 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Darling Ingredients worth $15,328,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in Darling Ingredients during the fourth quarter valued at about $39,000. ICA Group Wealth Management LLC bought a new stake in Darling Ingredients during the fourth quarter valued at about $51,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Darling Ingredients by 624.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $63,000 after acquiring an additional 862 shares during the period. Assetmark Inc. boosted its holdings in Darling Ingredients by 21.5% during the fourth quarter. Assetmark Inc. now owns 1,109 shares of the company’s stock valued at $69,000 after acquiring an additional 196 shares during the period. Finally, Archer Investment Corp bought a new stake in shares of Darling Ingredients in the first quarter valued at about $74,000. 89.78% of the stock is currently owned by institutional investors.

Darling Ingredients Stock Up 0.2 %

Shares of DAR opened at $61.91 on Monday. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 12.84 and a beta of 1.24. The company has a 50-day moving average price of $64.63 and a two-hundred day moving average price of $62.12. The company has a quick ratio of 1.04, a current ratio of 1.85 and a debt-to-equity ratio of 1.00. Darling Ingredients Inc. has a 12 month low of $51.77 and a 12 month high of $82.69.

Darling Ingredients (NYSE:DAR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.02). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Darling Ingredients had a return on equity of 20.15% and a net margin of 11.12%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. Equities analysts predict that Darling Ingredients Inc. will post 5.53 EPS for the current fiscal year.

Insider Transactions at Darling Ingredients

In other news, EVP John Bullock sold 58,600 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $65.12, for a total transaction of $3,816,032.00. Following the completion of the sale, the executive vice president now owns 52,469 shares of the company’s stock, valued at $3,416,781.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Gary W. Mize acquired 1,550 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $63.97 per share, for a total transaction of $99,153.50. Following the transaction, the director now directly owns 38,375 shares of the company’s stock, valued at approximately $2,454,848.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bullock sold 58,600 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $65.12, for a total transaction of $3,816,032.00. Following the completion of the transaction, the executive vice president now owns 52,469 shares of the company’s stock, valued at approximately $3,416,781.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,999 shares of company stock valued at $7,290,010. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DAR. Robert W. Baird reduced their target price on shares of Darling Ingredients from $106.00 to $104.00 in a research note on Thursday, August 10th. Stifel Nicolaus reduced their target price on shares of Darling Ingredients from $120.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, August 22nd. JPMorgan Chase & Co. reduced their target price on shares of Darling Ingredients from $92.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, August 10th. StockNews.com cut shares of Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, Stephens reiterated an “equal weight” rating and issued a $65.00 target price on shares of Darling Ingredients in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.64.

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About Darling Ingredients

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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.