Chesapeake Capital Corp IL Buys New Shares in Knife River Co. (NYSE:KNF)

Chesapeake Capital Corp IL bought a new stake in Knife River Co. (NYSE:KNF) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 6,366 shares of the company’s stock, valued at approximately $567,000.

Several other hedge funds have also recently made changes to their positions in KNF. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Knife River by 12.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after purchasing an additional 224,373 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock valued at $53,377,000 after purchasing an additional 38,152 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Knife River by 10.7% in the third quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock valued at $60,745,000 after purchasing an additional 65,930 shares during the last quarter. US Bancorp DE boosted its holdings in Knife River by 0.3% in the third quarter. US Bancorp DE now owns 423,337 shares of the company’s stock valued at $37,842,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Knife River by 37.5% during the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after acquiring an additional 104,720 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KNF has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Loop Capital lowered their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Oppenheimer increased their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

Knife River Stock Down 0.4 %

KNF stock opened at $94.25 on Friday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.53 and a beta of 0.74. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. Knife River Co. has a 12 month low of $56.36 and a 12 month high of $103.33. The firm has a 50-day moving average of $91.06 and a two-hundred day moving average of $79.97.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, analysts forecast that Knife River Co. will post 3.57 earnings per share for the current fiscal year.

Knife River Company 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.