Bank of Montreal Can Invests $7,249,000 in Darling Ingredients Inc. (DAR)
Bank of Montreal Can purchased a new stake in Darling Ingredients Inc. (NYSE:DAR) during the second quarter, Holdings Channel reports. The firm purchased 486,500 shares of the company’s stock, valued at approximately $7,249,000.
Several other hedge funds and other institutional investors have also modified their holdings of DAR. Acadian Asset Management LLC raised its stake in Darling Ingredients by 3,783.2% in the first quarter. Acadian Asset Management LLC now owns 30,095 shares of the company’s stock worth $396,000 after buying an additional 29,320 shares in the last quarter. Aperio Group LLC raised its stake in Darling Ingredients by 0.9% in the first quarter. Aperio Group LLC now owns 77,169 shares of the company’s stock worth $1,016,000 after buying an additional 705 shares in the last quarter. Nisa Investment Advisors L.L.C. purchased a new stake in Darling Ingredients during the first quarter worth $258,000. Teachers Advisors Inc. raised its stake in Darling Ingredients by 14.2% in the first quarter. Teachers Advisors Inc. now owns 1,308,009 shares of the company’s stock worth $17,226,000 after buying an additional 162,450 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Darling Ingredients by 91.5% in the first quarter. Prudential Financial Inc. now owns 937,511 shares of the company’s stock worth $12,347,000 after buying an additional 447,900 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.
Darling Ingredients Inc. (NYSE:DAR) traded down 2.98% during trading on Friday, hitting $13.33. 2,345,551 shares of the company were exchanged. Darling Ingredients Inc. has a 1-year low of $7.78 and a 1-year high of $15.93. The firm’s 50 day moving average price is $13.67 and its 200-day moving average price is $14.32. The stock has a market capitalization of $2.19 billion, a PE ratio of 20.26 and a beta of 1.77.
Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business earned $877.50 million during the quarter, compared to analyst estimates of $875.85 million. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share. Equities analysts predict that Darling Ingredients Inc. will post $0.56 EPS for the current year.
A number of analysts have weighed in on DAR shares. Canaccord Genuity set a $18.00 price objective on shares of Darling Ingredients and gave the company a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research lowered shares of Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, September 12th. BMO Capital Markets restated an “outperform” rating and set a $18.00 price objective on shares of Darling Ingredients in a research note on Friday, September 16th. TheStreet upgraded shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $16.94.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the completion of the sale, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at $1,640,781.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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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