Strategic Advocates LLC Cuts Stock Holdings in Knife River Co. (NYSE:KNF)

Strategic Advocates LLC lowered its stake in Knife River Co. (NYSE:KNF) by 5.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,714 shares of the company’s stock after selling 155 shares during the period. Strategic Advocates LLC’s holdings in Knife River were worth $276,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KNF. GAMMA Investing LLC grew its stake in shares of Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Huntington National Bank increased its stake in shares of Knife River by 586.0% during the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Knife River during the second quarter valued at approximately $43,000. Harvest Fund Management Co. Ltd purchased a new stake in Knife River in the third quarter worth $60,000. Finally, Sittner & Nelson LLC boosted its holdings in Knife River by 18.5% in the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after acquiring an additional 150 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Up 3.0 %

NYSE:KNF opened at $105.93 on Friday. Knife River Co. has a one year low of $65.35 and a one year high of $108.83. The company’s 50-day simple moving average is $102.56 and its 200 day simple moving average is $91.06. The firm has a market capitalization of $6.00 billion, a P/E ratio of 30.35, a PEG ratio of 2.37 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, analysts forecast that Knife River Co. will post 3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KNF shares. Oppenheimer raised their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. DA Davidson lifted their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, 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 research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.75.

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.