Retirement Systems of Alabama Increases Stock Holdings in Knife River Co. (NYSE:KNF)

Retirement Systems of Alabama boosted its position in shares of Knife River Co. (NYSE:KNF) by 11.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 70,847 shares of the company’s stock after acquiring an additional 7,281 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Knife River worth $4,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its position in Knife River by 87.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock worth $2,408,000 after acquiring an additional 23,022 shares during the period. Quadrature Capital Ltd acquired a new stake in Knife River during the 3rd quarter worth about $893,000. Vanguard Group Inc. lifted its position in Knife River by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock worth $270,532,000 after acquiring an additional 46,737 shares during the period. Planned Solutions Inc. acquired a new stake in Knife River during the 4th quarter worth about $53,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in Knife River by 19.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after acquiring an additional 184,192 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Price Performance

Shares of Knife River stock opened at $78.99 on Monday. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. Knife River Co. has a twelve month low of $33.67 and a twelve month high of $83.78. The business has a 50-day moving average price of $77.61 and a 200 day moving average price of $67.42. The firm has a market cap of $4.47 billion and a PE ratio of -0.15.

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

Analyst Ratings Changes

A number of analysts have commented on KNF shares. Loop Capital began coverage on Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price target for the company. Oppenheimer boosted their price objective on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Wolfe Research began coverage on Knife River in a report on Friday, March 8th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.20.

Knife River Company 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.