Darling Ingredients Inc. (NYSE:DAR) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in Darling Ingredients Inc. (NYSE:DAR) by 203.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,844,297 shares of the company’s stock after buying an additional 1,235,985 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Darling Ingredients were worth $62,134,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DAR. Erste Asset Management GmbH acquired a new stake in shares of Darling Ingredients in the third quarter worth $30,545,000. Algert Global LLC grew its position in Darling Ingredients by 266.6% during the 3rd quarter. Algert Global LLC now owns 103,871 shares of the company’s stock worth $3,860,000 after purchasing an additional 75,540 shares during the period. Natixis Advisors LLC grew its position in Darling Ingredients by 23.2% during the 3rd quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock worth $4,010,000 after purchasing an additional 20,323 shares during the period. Jennison Associates LLC raised its stake in shares of Darling Ingredients by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock valued at $40,635,000 after buying an additional 42,921 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Darling Ingredients by 1.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock valued at $50,210,000 after buying an additional 15,414 shares during the period. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Performance

DAR opened at $36.97 on Thursday. The firm’s fifty day simple moving average is $37.17 and its two-hundred day simple moving average is $37.56. Darling Ingredients Inc. has a 52-week low of $32.55 and a 52-week high of $48.39. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 22.82 and a beta of 1.19. 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 (NYSE:DAR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share 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 company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. Equities analysts anticipate that Darling Ingredients Inc. will post 1.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on DAR. Piper Sandler reduced their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their target price 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. Finally, Jefferies Financial Group raised their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.44.

Darling Ingredients Company Profile

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.