LSV Asset Management Cuts Stake in Knife River Co. (NYSE:KNF)

LSV Asset Management reduced its holdings in shares of Knife River Co. (NYSE:KNF) by 57.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,475 shares of the company’s stock after selling 64,398 shares during the period. LSV Asset Management owned about 0.09% of Knife River worth $3,208,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KNF. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Knife River by 17.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,923 shares of the company’s stock worth $485,000 after buying an additional 1,449 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Knife River by 9.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,983 shares of the company’s stock valued at $14,404,000 after purchasing an additional 25,591 shares during the last quarter. TIAA Trust National Association purchased a new stake in shares of Knife River in the 3rd quarter valued at approximately $207,000. Allspring Global Investments Holdings LLC increased its position in shares of Knife River by 48.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company’s stock valued at $17,019,000 after purchasing an additional 113,575 shares during the last quarter. Finally, Securian Asset Management Inc. purchased a new stake in shares of Knife River in the 3rd quarter valued at approximately $211,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Trading Down 3.4 %

NYSE:KNF opened at $76.17 on Thursday. The company has a market capitalization of $4.31 billion and a PE ratio of -0.15. Knife River Co. has a 52-week low of $33.67 and a 52-week high of $83.78. The stock’s 50 day moving average price is $77.99 and its 200 day moving average price is $67.90. 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 (NYSE:KNF) last announced its earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.04). The business had revenue of $329.60 million for the quarter, compared to analysts’ expectations of $300.98 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted ($516.50) earnings per share. On average, research analysts anticipate that Knife River Co. will post 3.5 EPS for the current year.

Analyst Ratings Changes

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

About Knife River

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.