World Asset Management Inc Purchases New Shares in Darling Ingredients Inc (NYSE:DAR)
World Asset Management Inc purchased a new stake in shares of Darling Ingredients Inc (NYSE:DAR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,625 shares of the company’s stock, valued at approximately $237,000.
A number of other hedge funds have also recently added to or reduced their stakes in DAR. Handelsbanken Fonder AB grew its position in Darling Ingredients by 168.2% during the first quarter. Handelsbanken Fonder AB now owns 3,745,089 shares of the company’s stock valued at $71,793,000 after buying an additional 2,348,733 shares during the period. Norges Bank acquired a new stake in Darling Ingredients during the fourth quarter valued at $56,100,000. AJO LP acquired a new stake in Darling Ingredients during the first quarter valued at $18,513,000. Impax Asset Management Group plc grew its position in Darling Ingredients by 15.3% during the first quarter. Impax Asset Management Group plc now owns 5,093,134 shares of the company’s stock valued at $97,099,000 after buying an additional 674,720 shares during the period. Finally, ValueAct Holdings L.P. grew its position in Darling Ingredients by 29.4% during the first quarter. ValueAct Holdings L.P. now owns 2,640,000 shares of the company’s stock valued at $50,609,000 after buying an additional 600,000 shares during the period. Institutional investors own 95.58% of the company’s stock.
NYSE:DAR opened at $27.93 on Friday. The company’s 50-day moving average price is $24.94 and its 200-day moving average price is $23.75. The company has a current ratio of 1.43, a quick ratio of 0.84 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.59 billion, a P/E ratio of 12.36 and a beta of 1.26. Darling Ingredients Inc has a twelve month low of $10.25 and a twelve month high of $29.57.
Several research firms have issued reports on DAR. ValuEngine downgraded shares of Darling Ingredients from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Zacks Investment Research downgraded shares of Darling Ingredients from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Berenberg Bank began coverage on shares of Darling Ingredients in a report on Thursday, July 16th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Darling Ingredients from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $30.00.
Darling Ingredients Profile
Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers 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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