Bank of Montreal Can Raises Stake in Darling Ingredients Inc. (NYSE:DAR)

Bank of Montreal Can increased its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 127.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,252 shares of the company's stock after acquiring an additional 62,958 shares during the quarter. Bank of Montreal Can owned about 0.07% of Darling Ingredients worth $4,239,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of DAR. Dimensional Fund Advisors LP increased its position in Darling Ingredients by 52.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company's stock worth $192,445,000 after acquiring an additional 1,800,809 shares during the period. ING Groep NV increased its position in Darling Ingredients by 244.1% during the third quarter. ING Groep NV now owns 810,100 shares of the company's stock worth $30,103,000 after acquiring an additional 574,700 shares during the period. Earnest Partners LLC increased its holdings in Darling Ingredients by 14.0% in the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company's stock valued at $140,725,000 after buying an additional 470,170 shares during the period. Citigroup Inc. increased its holdings in Darling Ingredients by 2,842.2% in the 3rd quarter. Citigroup Inc. now owns 465,985 shares of the company's stock valued at $17,316,000 after buying an additional 450,147 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Darling Ingredients in the 2nd quarter valued at about $15,406,000. 94.44% of the stock is owned by institutional investors.

Darling Ingredients Stock Down 2.5 %

Shares of Darling Ingredients stock traded down $0.93 during trading on Wednesday, reaching $36.54. 4,665,190 shares of the company traded hands, compared to its average volume of 2,189,396. The firm has a market capitalization of $5.81 billion, a PE ratio of 22.56 and a beta of 1.19. The company has a 50 day moving average price of $38.97 and a 200-day moving average price of $38.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.41 and a quick ratio of 0.83. Darling Ingredients Inc. has a 1-year low of $32.67 and a 1-year high of $51.36.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $0.77 EPS. The business's revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, equities research analysts expect that Darling Ingredients Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on DAR. Jefferies Financial Group raised their target price on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a "buy" rating in a report on Friday, October 25th. Piper Sandler decreased their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. TD Cowen decreased their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a "hold" rating on the stock in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.44.

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.