PNC Financial Services Group Inc. increased its stake in shares of Darling Ingredients Inc. (NYSE:DAR – Free Report) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,548 shares of the company’s stock after buying an additional 1,229 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Darling Ingredients were worth $446,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in shares of Darling Ingredients by 38.9% during the second quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $44,000 after buying an additional 193 shares during the last quarter. Veritable L.P. boosted its holdings in Darling Ingredients by 6.2% in the 2nd quarter. Veritable L.P. now owns 3,768 shares of the company’s stock valued at $240,000 after purchasing an additional 219 shares in the last quarter. Advisor Partners II LLC boosted its holdings in Darling Ingredients by 7.1% in the 4th quarter. Advisor Partners II LLC now owns 3,329 shares of the company’s stock valued at $208,000 after purchasing an additional 220 shares in the last quarter. Outlook Wealth Advisors LLC boosted its holdings in Darling Ingredients by 2.3% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 10,722 shares of the company’s stock valued at $560,000 after purchasing an additional 243 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in Darling Ingredients by 1.3% in the 3rd quarter. Xponance Inc. now owns 19,806 shares of the company’s stock valued at $1,034,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.
Darling Ingredients Trading Up 4.0 %
Shares of Darling Ingredients stock opened at $42.30 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.78 and a quick ratio of 0.99. Darling Ingredients Inc. has a 1 year low of $38.97 and a 1 year high of $71.60. The company has a market capitalization of $6.75 billion, a P/E ratio of 10.63 and a beta of 1.30. The business has a 50 day moving average price of $44.67 and a 200 day moving average price of $48.33.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on Darling Ingredients from $123.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, January 29th. Citigroup lowered their price objective on Darling Ingredients from $49.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday. Stephens lowered their price objective on Darling Ingredients from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Raymond James lowered their price objective on Darling Ingredients from $80.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 9th. Finally, BMO Capital Markets reduced their price target on shares of Darling Ingredients from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Darling Ingredients has a consensus rating of “Moderate Buy” and a consensus price target of $78.30.
Get Our Latest Stock Report on DAR
Insider Buying and Selling
In other Darling Ingredients news, Director Kurt Stoffel purchased 8,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of $41.62 per share, for a total transaction of $332,960.00. Following the acquisition, the director now owns 10,571 shares of the company’s stock, valued at approximately $439,965.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.62% of the company’s stock.
Darling Ingredients Profile
Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.
Further Reading
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Source: americanbankingnews.com
