Darling Ingredients Inc. (DAR) Shares Bought by JPMorgan Chase & Co.
JPMorgan Chase & Co. raised its stake in Darling Ingredients Inc. (NYSE:DAR) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,175,762 shares of the company’s stock after buying an additional 302,601 shares during the period. JPMorgan Chase & Co. owned about 1.93% of Darling Ingredients worth $49,987,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of DAR. BlackRock Inc. increased its holdings in shares of Darling Ingredients by 7,798.7% in the 1st quarter. BlackRock Inc. now owns 20,437,790 shares of the company’s stock worth $296,758,000 after buying an additional 20,179,041 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Darling Ingredients in the 1st quarter worth $14,819,000. Vanguard Group Inc. increased its holdings in shares of Darling Ingredients by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 15,418,060 shares of the company’s stock worth $223,870,000 after buying an additional 910,712 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Darling Ingredients by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,770,238 shares of the company’s stock worth $185,423,000 after buying an additional 802,072 shares during the last quarter. Finally, Vivaldi Capital Management LLC bought a new position in shares of Darling Ingredients in the 1st quarter worth $11,309,352,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Darling Ingredients Inc. (DAR) opened at 17.79 on Thursday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 34.95 and a beta of 1.60. Darling Ingredients Inc. has a 12-month low of $11.51 and a 12-month high of $18.00. The company’s 50 day moving average is $16.84 and its 200 day moving average is $15.66.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). Darling Ingredients had a return on equity of 3.99% and a net margin of 2.39%. The business had revenue of $896.30 million during the quarter, compared to the consensus estimate of $890.91 million. During the same quarter in the prior year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Darling Ingredients Inc. will post $0.44 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on DAR. Zacks Investment Research raised shares of Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. J P Morgan Chase & Co set a $19.00 price target on shares of Darling Ingredients and gave the stock a “buy” rating in a report on Monday, August 14th. BidaskClub lowered shares of Darling Ingredients from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $20.00 target price (up previously from $19.00) on shares of Darling Ingredients in a report on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.17.
Darling Ingredients Company Profile
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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