Federated Hermes Inc. Acquires 245,475 Shares of Knife River Co. (NYSE:KNF)

Federated Hermes Inc. boosted its holdings in Knife River Co. (NYSE:KNF) by 4,029.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 251,567 shares of the company’s stock after buying an additional 245,475 shares during the quarter. Federated Hermes Inc. owned 0.44% of Knife River worth $16,649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cascade Investment Advisors Inc. boosted its stake in shares of Knife River by 1.4% in the 4th quarter. Cascade Investment Advisors Inc. now owns 16,157 shares of the company’s stock worth $1,069,000 after buying an additional 225 shares during the last quarter. Victory Capital Management Inc. boosted its position in Knife River by 2.9% in the third quarter. Victory Capital Management Inc. now owns 9,441 shares of the company’s stock worth $461,000 after purchasing an additional 265 shares during the last quarter. CWM LLC grew its stake in shares of Knife River by 18.7% during the 3rd quarter. CWM LLC now owns 1,986 shares of the company’s stock valued at $97,000 after purchasing an additional 313 shares during the period. Private Advisor Group LLC increased its position in shares of Knife River by 3.5% during the 3rd quarter. Private Advisor Group LLC now owns 11,496 shares of the company’s stock valued at $561,000 after purchasing an additional 394 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Knife River by 0.4% in the 3rd quarter. Swiss National Bank now owns 105,698 shares of the company’s stock worth $5,161,000 after purchasing an additional 400 shares during the period. Institutional investors own 80.11% of the company’s stock.

Knife River Trading Up 1.6 %

Shares of Knife River stock opened at $76.58 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.71 and a current ratio of 2.63. The company has a fifty day moving average of $76.10 and a 200 day moving average of $65.77. The company has a market capitalization of $4.34 billion and a P/E ratio of -0.15. Knife River Co. has a fifty-two week low of $33.67 and a fifty-two week high of $83.78.

Knife River (NYSE:KNF) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The firm had revenue of $646.90 million during the quarter, compared to analyst estimates of $566.47 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Knife River Co. will post 3.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KNF shares. Bank of America started coverage on shares of Knife River in a research report on Friday, January 5th. They set a “buy” rating and a $81.00 target price for the company. Oppenheimer upped their price objective on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Wolfe Research initiated coverage on Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. Siebert Williams Shank boosted their price target on Knife River from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, December 26th. Finally, Loop Capital started coverage on Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Knife River currently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

Knife River Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.