Envestnet Asset Management Inc. Reduces Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Envestnet Asset Management Inc. decreased its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517,849 shares of the company’s stock after selling 43,590 shares during the period. Envestnet Asset Management Inc.’s holdings in Darling Ingredients were worth $17,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Darling Ingredients in the 4th quarter worth about $243,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Darling Ingredients during the fourth quarter valued at approximately $646,000. Riverwater Partners LLC bought a new stake in Darling Ingredients in the fourth quarter worth $844,000. Bryce Point Capital LLC purchased a new stake in shares of Darling Ingredients in the fourth quarter worth $487,000. Finally, Franklin Resources Inc. raised its position in shares of Darling Ingredients by 266.7% in the 4th quarter. Franklin Resources Inc. now owns 973,556 shares of the company’s stock worth $32,799,000 after purchasing an additional 708,035 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Price Performance

NYSE:DAR opened at $29.52 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a 52 week low of $26.00 and a 52 week high of $47.28. The business’s 50-day simple moving average is $33.30 and its two-hundred day simple moving average is $35.84. The stock has a market cap of $4.67 billion, a PE ratio of 17.07 and a beta of 1.19.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Darling Ingredients had a net margin of 4.88% and a return on equity of 6.04%. As a group, analysts forecast that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and issued a $52.00 target price on shares of Darling Ingredients in a report on Thursday, January 23rd. StockNews.com downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, April 2nd. Robert W. Baird lowered their price target on Darling Ingredients from $51.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday. TD Cowen reduced their price objective on Darling Ingredients from $43.00 to $37.00 and set a “hold” rating for the company in a report on Friday, April 4th. Finally, Citigroup dropped their price target on shares of Darling Ingredients from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.78.

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.