Bank of New York Mellon Corp Has $65.80 Million Stock Holdings in Knife River Co. (NYSE:KNF)

Bank of New York Mellon Corp lowered its holdings in shares of Knife River Co. (NYSE:KNF) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 647,363 shares of the company’s stock after selling 19,287 shares during the period. Bank of New York Mellon Corp owned about 1.14% of Knife River worth $65,798,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of KNF. Hotchkis & Wiley Capital Management LLC acquired a new position in Knife River during the third quarter worth about $10,267,000. Barclays PLC grew its holdings in shares of Knife River by 156.2% during the 3rd quarter. Barclays PLC now owns 170,101 shares of the company’s stock valued at $15,205,000 after purchasing an additional 103,713 shares during the last quarter. JPMorgan Chase & Co. increased its position in Knife River by 31.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after purchasing an additional 49,785 shares in the last quarter. Van ECK Associates Corp bought a new position in Knife River in the 4th quarter valued at approximately $4,201,000. Finally, Franklin Resources Inc. boosted its position in Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock valued at $38,201,000 after buying an additional 39,991 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer upped their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Loop Capital lowered their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Knife River in a research note on Friday, February 14th. Finally, DA Davidson upped their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

Knife River Stock Down 5.5 %

Shares of NYSE:KNF opened at $90.46 on Tuesday. The firm has a market cap of $5.12 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.36 and a beta of 0.76. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83. The business has a fifty day simple moving average of $100.85 and a 200 day simple moving average of $95.00. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. Analysts predict that Knife River Co. will post 4.11 earnings per share for the current year.

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.