Principal Financial Group Inc. Cuts Position in Darling Ingredients Inc. $DAR

Principal Financial Group Inc. reduced its position in Darling Ingredients Inc. (NYSE:DAR) by 4.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,289,656 shares of the company’s stock after selling 53,046 shares during the quarter. Principal Financial Group Inc.’s holdings in Darling Ingredients were worth $39,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DAR. Norges Bank purchased a new position in Darling Ingredients in the second quarter valued at approximately $74,041,000. Marshall Wace LLP increased its position in shares of Darling Ingredients by 973.3% in the second quarter. Marshall Wace LLP now owns 1,502,084 shares of the company’s stock worth $56,989,000 after acquiring an additional 1,362,137 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Darling Ingredients by 66.0% in the second quarter. Frontier Capital Management Co. LLC now owns 3,323,470 shares of the company’s stock worth $126,092,000 after acquiring an additional 1,320,817 shares in the last quarter. Harspring Capital Management LLC purchased a new position in shares of Darling Ingredients in the 2nd quarter valued at $31,680,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Darling Ingredients by 184.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 846,371 shares of the company’s stock valued at $32,111,000 after acquiring an additional 548,844 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $47.26 on Friday. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $48.93. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.84. The company has a market cap of $7.48 billion, a P/E ratio of 70.53, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27. The company’s fifty day moving average is $38.81 and its two-hundred day moving average is $34.76.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04). Darling Ingredients had a return on equity of 2.39% and a net margin of 1.84%.The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Equities analysts expect that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAR. JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. TD Cowen raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Tuesday, December 2nd. Zacks Research lowered Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. UBS Group set a $50.00 price objective on shares of Darling Ingredients in a report on Monday, November 3rd. Finally, Robert W. Baird set a $62.00 price target on shares of Darling Ingredients and gave the company an “outperform” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.88.

Darling Ingredients Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.