Precedent Wealth Partners LLC Purchases New Position in Knife River Co. (NYSE:KNF)

Precedent Wealth Partners LLC purchased a new stake in Knife River Co. (NYSE:KNF) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 3,543 shares of the company’s stock, valued at approximately $317,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Knife River by 129.4% during the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after buying an additional 176 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Knife River during the 2nd quarter worth approximately $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Knife River in the second quarter valued at approximately $43,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Knife River in the second quarter valued at approximately $96,000. Finally, Horan Capital Advisors LLC. acquired a new stake in Knife River during the first quarter worth approximately $203,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Price Performance

Knife River stock opened at $93.44 on Friday. The stock’s fifty day moving average price is $83.16 and its two-hundred day moving average price is $77.61. The firm has a market cap of $5.29 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. 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 one year low of $46.51 and a one year high of $95.06.

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