Bessemer Group Inc. Has $49,000 Stake in Knife River Corporation (NYSE:KNF)

Bessemer Group Inc. lifted its holdings in shares of Knife River Corporation (NYSE:KNF) by 173.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545 shares of the company’s stock after buying an additional 346 shares during the quarter. Bessemer Group Inc.’s holdings in Knife River were worth $49,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Knife River during the 1st quarter worth approximately $26,000. Versant Capital Management Inc grew its position in shares of Knife River by 501.9% during the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company’s stock worth $29,000 after buying an additional 271 shares during the period. State of Wyoming acquired a new stake in shares of Knife River during the 4th quarter worth approximately $30,000. Larson Financial Group LLC grew its position in shares of Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after buying an additional 157 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Knife River by 239.5% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the company’s stock worth $51,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Down 0.8%

Knife River stock opened at $80.60 on Friday. The company’s 50 day simple moving average is $90.65 and its 200 day simple moving average is $94.60. Knife River Corporation has a fifty-two week low of $67.22 and a fifty-two week high of $108.83. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.19 and a beta of 0.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.32). Knife River had a return on equity of 12.83% and a net margin of 6.18%. The firm had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same period in the previous year, the business earned ($0.84) EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Knife River Corporation will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KNF. Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They set an “outperform” rating and a $129.00 price target for the company. DA Davidson reduced their price objective on shares of Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Knife River from $102.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $117.17.

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.