Ameriprise Financial Inc. raised its position in Darling Ingredients Inc. (NYSE:DAR) by 5.6% during the third quarter, Holdings Channel reports. The institutional investor owned 2,947,556 shares of the company’s stock after buying an additional 155,290 shares during the period. Ameriprise Financial Inc.’s holdings in Darling Ingredients were worth $39,821,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in shares of Darling Ingredients by 9.5% in the second quarter. Acrospire Investment Management LLC now owns 6,900 shares of the company’s stock valued at $103,000 after buying an additional 600 shares during the period. 1st Global Advisors Inc. boosted its stake in shares of Darling Ingredients by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,717 shares of the company’s stock valued at $160,000 after buying an additional 57 shares during the period. World Asset Management Inc purchased a new stake in shares of Darling Ingredients during the third quarter valued at about $148,000. GSA Capital Partners LLP purchased a new stake in shares of Darling Ingredients during the second quarter valued at about $164,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Darling Ingredients by 95.8% in the third quarter. Advisors Asset Management Inc. now owns 11,064 shares of the company’s stock valued at $149,000 after buying an additional 5,412 shares during the period. 95.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Darling Ingredients Inc. (NYSE:DAR) traded down 1.57% during trading on Wednesday, reaching $13.19. The company’s stock had a trading volume of 279,067 shares. Darling Ingredients Inc. has a 1-year low of $7.78 and a 1-year high of $15.93. The stock has a 50 day moving average of $13.67 and a 200-day moving average of $14.09. The company has a market capitalization of $2.17 billion, a PE ratio of 14.85 and a beta of 1.84.
Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $853.90 million for the quarter, compared to the consensus estimate of $858.92 million. Darling Ingredients had a return on equity of 7.34% and a net margin of 4.40%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. On average, analysts expect that Darling Ingredients Inc. will post $0.57 earnings per share for the current year.
Several analysts have recently issued reports on DAR shares. Canaccord Genuity set a $18.00 price objective on Darling Ingredients and gave the stock a “buy” rating in a report on Thursday, September 15th. Zacks Investment Research cut Darling Ingredients from a “hold” rating to a “sell” rating in a report on Monday, September 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Darling Ingredients in a report on Friday, September 16th. TheStreet cut Darling Ingredients from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Finally, Roth Capital set a $16.50 target price on Darling Ingredients and gave the company a “buy” rating in a research report on Monday, September 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $16.94.
About Darling Ingredients
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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