Congress Asset Management Co. Increases Stock Position in Knife River Co. (NYSE:KNF)

Congress Asset Management Co. grew its position in shares of Knife River Co. (NYSE:KNF) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 679,547 shares of the company’s stock after purchasing an additional 65,930 shares during the quarter. Congress Asset Management Co.’s holdings in Knife River were worth $60,745,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Knife River in the second quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knife River in the second quarter valued at about $43,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Knife River during the second quarter worth about $96,000. Finally, Horan Capital Advisors LLC. purchased a new position in shares of Knife River during the first quarter worth about $203,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF stock traded down $1.14 during mid-day trading on Thursday, hitting $97.94. The stock had a trading volume of 39,497 shares, compared to its average volume of 375,947. The firm has a market cap of $5.54 billion, a PE ratio of 31.56, a PEG ratio of 2.26 and a beta of 0.82. The company’s 50-day simple moving average is $86.37 and its 200-day simple moving average is $78.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. Knife River Co. has a fifty-two week low of $48.67 and a fifty-two week high of $99.54.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The firm had revenue of $806.90 million during the quarter, compared to the consensus estimate of $803.81 million. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Knife River Co. will post 3.72 earnings per share for the current year.

Analyst Ratings Changes

Separately, Oppenheimer upped their price objective on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Knife River has an average rating of “Moderate Buy” and a consensus price target of $86.60.

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.