Principal Financial Group Inc. Raises Stake in Darling Ingredients Inc. (DAR)
Principal Financial Group Inc. raised its position in Darling Ingredients Inc. (NYSE:DAR) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,180,635 shares of the company’s stock after buying an additional 24,875 shares during the period. Principal Financial Group Inc. owned approximately 0.72% of Darling Ingredients worth $17,591,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Darling Ingredients by 554.6% in the first quarter. JPMorgan Chase & Co. now owns 3,209,779 shares of the company’s stock worth $42,273,000 after buying an additional 2,719,416 shares during the period. Dimensional Fund Advisors LP raised its stake in Darling Ingredients by 28.1% in the second quarter. Dimensional Fund Advisors LP now owns 9,934,020 shares of the company’s stock worth $148,015,000 after buying an additional 2,178,258 shares during the period. Ameriprise Financial Inc. raised its stake in Darling Ingredients by 70.6% in the second quarter. Ameriprise Financial Inc. now owns 2,792,266 shares of the company’s stock worth $41,604,000 after buying an additional 1,155,824 shares during the period. Goldman Sachs Group Inc. raised its stake in Darling Ingredients by 258.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,047,008 shares of the company’s stock worth $13,789,000 after buying an additional 754,570 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in Darling Ingredients by 104,746.5% in the first quarter. Loomis Sayles & Co. L P now owns 595,528 shares of the company’s stock worth $7,843,000 after buying an additional 594,960 shares during the period. Institutional investors own 95.37% of the company’s stock.
Darling Ingredients Inc. (NYSE:DAR) traded down 0.07% on Wednesday, hitting $13.37. 319,382 shares of the company were exchanged. The stock has a market cap of $2.20 billion, a PE ratio of 20.32 and a beta of 1.77. The firm has a 50 day moving average of $13.72 and a 200-day moving average of $14.32. Darling Ingredients Inc. has a 52-week low of $7.78 and a 52-week high of $15.93.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $875.85 million. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. Darling Ingredients’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. On average, equities analysts expect that Darling Ingredients Inc. will post $0.56 earnings per share for the current fiscal year.
DAR has been the topic of a number of research reports. Goldman Sachs Group Inc. upgraded shares of Darling Ingredients from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.00 to $18.00 in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Darling Ingredients from a “sell” rating to a “hold” rating in a report on Monday, August 29th. Roth Capital set a $16.50 price objective on shares of Darling Ingredients and gave the company a “buy” rating in a research report on Monday, September 19th. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research report on Friday, September 16th. Finally, Canaccord Genuity set a $18.00 price objective on shares of Darling Ingredients and gave the company a “buy” rating in a research report on Thursday, September 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.94.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of Darling Ingredients stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the transaction, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at $1,640,781.98. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.75% of the company’s stock.
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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