Lazard Asset Management LLC Sells 13,693 Shares of Darling Ingredients Inc. $DAR

Lazard Asset Management LLC reduced its holdings in Darling Ingredients Inc. (NYSE:DAR) by 37.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,236 shares of the company’s stock after selling 13,693 shares during the period. Lazard Asset Management LLC’s holdings in Darling Ingredients were worth $1,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S bought a new stake in shares of Darling Ingredients during the 3rd quarter valued at $25,000. Allworth Financial LP boosted its position in shares of Darling Ingredients by 227.2% in the 4th quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after purchasing an additional 509 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in shares of Darling Ingredients during the fourth quarter worth $29,000. Finally, Leonteq Securities AG bought a new stake in Darling Ingredients in the fourth quarter valued at about $35,000. 94.44% of the stock is owned by institutional investors.

Insider Activity at Darling Ingredients

In related news, Director Charles L. Adair acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $60.97 per share, with a total value of $60,970.00. Following the transaction, the director owned 51,690 shares of the company’s stock, valued at $3,151,539.30. The trade was a 1.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group raised their target price on Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Robert W. Baird lifted their price objective on shares of Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Zacks Research cut shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Barclays increased their target price on shares of Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Wall Street Zen raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Darling Ingredients Stock Performance

Shares of DAR stock opened at $60.15 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 3.89. The company has a market capitalization of $9.56 billion, a P/E ratio of 16.21 and a beta of 1.02. The company’s 50 day moving average price is $58.54 and its two-hundred day moving average price is $56.40. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $66.02.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 13.23%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. On average, analysts expect that Darling Ingredients Inc. will post 6.21 earnings per share for the current fiscal year.

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.