Assenagon Asset Management S.A. Adds $50M in Darling Ingredients Inc. ($DAR)
Key Points
- Assenagon Asset Management S.A. changed its Darling Ingredients Inc. ($DAR) stake by 72.9% last quarter, boosting to 2,091,960 shares worth $119.22 million.
- Wall Street's consensus rating on $DAR is Strong Buy and an average price target of $76.42.
- $DAR last traded around $56.99.
Assenagon Asset Management S.A. increased its position in Darling Ingredients Inc. ($DAR) by 72.9% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,091,960 shares of Darling Ingredients Inc. after buying 882,185 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Darling Ingredients Inc. were worth $119.22 million as of its most recent filing.
Darling Ingredients Inc. ($DAR) Stock
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About Darling Ingredients Inc.
Darling Ingredients Inc. develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The Feed Ingredients segment collects and processes animal by-products into non-food grade oils and protein meals; bakery residuals into cookie meal used in poultry and swine rations; used cooking oil into non-food grade fats; and porcine and bovine blood into blood plasma powder and hemoglobin. This segment is also involved in the processing of selected portions of slaughtered animals into pet food, as well as of cattle hides and hog skins; production of organic fertilizers; rearing and processing of black soldier fly larvae into specialty proteins and fats for use in animal feed and pet food; and grease trap collection services to food service establishments. Its Food Ingredients segment engages in the purchase and processing of beef and pork bone chips, beef hides, and pig and fish skins into collagen; collection and processing of porcine and bovine intestines into natural casings; extraction and processing of porcine mucosa into crude heparin; collection and refining of animal fat into food grade fat; and processing of bones to bone chips and bone ash. The Fuel Ingredients segment is involved in the conversion of organic sludge and food waste into biogas; collection and conversion of fallen stock and certain animal by-products into low-grade energy sources; and processing of manure into natural bio-phosphate. It also provides environmental services, including disposal services; and yellow grease, fuel feedstock, and agriculture-based biofuels. The company sells its products under the Rendac, Sonac, FASA, Ecoson, Rousselot, Gelnex, and CTH brands. The company was formerly known as Darling International Inc. and changed its name to Darling Ingredients Inc. in May 2014. Darling Ingredients Inc. was founded in 1882 and is headquartered in Irving, Texas.
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