Franklin Resources Inc. Sells 3,106 Shares of Darling Ingredients Inc. (NYSE:DAR)

Franklin Resources Inc. cut its stake in Darling Ingredients Inc. (NYSE:DAR) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 265,521 shares of the company’s stock after selling 3,106 shares during the period. Franklin Resources Inc. owned about 0.17% of Darling Ingredients worth $9,755,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DAR. GAMMA Investing LLC boosted its position in Darling Ingredients by 173.9% in the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after buying an additional 527 shares during the period. Signaturefd LLC grew its stake in Darling Ingredients by 75.0% in the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 386 shares in the last quarter. Blue Trust Inc. increased its holdings in Darling Ingredients by 38.0% during the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock worth $38,000 after purchasing an additional 288 shares during the period. Ashton Thomas Securities LLC bought a new stake in Darling Ingredients during the 3rd quarter valued at $58,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Darling Ingredients by 69.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,854 shares of the company’s stock worth $69,000 after buying an additional 758 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $33.06 on Friday. The firm has a market capitalization of $5.26 billion, a P/E ratio of 20.41 and a beta of 1.19. Darling Ingredients Inc. has a 52 week low of $32.67 and a 52 week high of $51.12. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $38.61 and a 200 day moving average price of $37.79.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.29). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. Darling Ingredients’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. Sell-side analysts expect that Darling Ingredients Inc. will post 1.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DAR. Jefferies Financial Group raised their price target on Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler cut their target price on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, TD Cowen cut their price objective 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.44.

About Darling Ingredients

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.