Bank of Montreal Can Has $1.92 Million Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Bank of Montreal Can decreased its stake in Darling Ingredients Inc. (NYSE:DAR) by 30.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 49,294 shares of the company’s stock after selling 21,863 shares during the quarter. Bank of Montreal Can’s holdings in Darling Ingredients were worth $1,915,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Darling Ingredients in the first quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in shares of Darling Ingredients in the first quarter valued at about $55,000. V Square Quantitative Management LLC raised its position in shares of Darling Ingredients by 56.9% during the fourth quarter. V Square Quantitative Management LLC now owns 1,997 shares of the company’s stock worth $100,000 after acquiring an additional 724 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Darling Ingredients in the second quarter worth approximately $140,000. Finally, Covestor Ltd boosted its holdings in Darling Ingredients by 21.9% in the first quarter. Covestor Ltd now owns 3,206 shares of the company’s stock valued at $149,000 after acquiring an additional 576 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup upgraded shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, June 12th. Scotiabank dropped their target price on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. TD Cowen decreased their price target on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, Jefferies Financial Group dropped their price objective on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and a consensus target price of $60.10.

Insider Activity

In other Darling Ingredients news, EVP Robert W. Day bought 2,532 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of $39.37 per share, for a total transaction of $99,684.84. Following the acquisition, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at approximately $496,337.59. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.62% of the company’s stock.

Darling Ingredients Stock Up 2.3 %

DAR stock opened at $36.94 on Friday. The stock’s 50 day simple moving average is $37.82 and its 200 day simple moving average is $39.83. The company has a market cap of $5.90 billion, a P/E ratio of 11.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. Darling Ingredients’s revenue was down 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 EPS. On average, research analysts expect that Darling Ingredients Inc. will post 2.45 earnings per share for the current fiscal year.

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.