11,275 Shares in Knife River Co. (NYSE:KNF) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Knife River Co. (NYSE:KNF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,275 shares of the company’s stock, valued at approximately $1,146,000.

Several other large investors have also modified their holdings of the company. Citigroup Inc. raised its position in Knife River by 222.9% in the 3rd quarter. Citigroup Inc. now owns 51,425 shares of the company’s stock valued at $4,597,000 after purchasing an additional 35,497 shares during the last quarter. Cerity Partners LLC increased its stake in Knife River by 24.4% in the third quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock valued at $2,278,000 after purchasing an additional 5,004 shares during the period. FMR LLC boosted its stake in shares of Knife River by 90.6% during the third quarter. FMR LLC now owns 12,091 shares of the company’s stock worth $1,081,000 after buying an additional 5,746 shares during the period. Townsquare Capital LLC grew its holdings in shares of Knife River by 8.7% during the third quarter. Townsquare Capital LLC now owns 28,277 shares of the company’s stock worth $2,528,000 after buying an additional 2,270 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in Knife River by 28.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,429 shares of the company’s stock valued at $932,000 after acquiring an additional 2,293 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Down 3.5 %

KNF opened at $89.59 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The stock has a market capitalization of $5.07 billion, a P/E ratio of 25.31, a P/E/G ratio of 2.36 and a beta of 0.88. The business has a 50 day simple moving average of $97.26 and a 200-day simple moving average of $96.99.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNF. Oppenheimer increased their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company initiated coverage on Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 price target for the company. Finally, Stephens reissued an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $110.40.

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.