Alberta Investment Management Corp acquired a new stake in Knife River Co. (NYSE:KNF - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,786 shares of the company's stock, valued at approximately $3,332,000. Alberta Investment Management Corp owned approximately 0.06% of Knife River at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. abrdn plc acquired a new stake in Knife River in the third quarter valued at $22,934,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Knife River in the 3rd quarter valued at about $10,267,000. Barclays PLC raised its position in shares of Knife River by 156.2% during the 3rd quarter. Barclays PLC now owns 170,101 shares of the company's stock worth $15,205,000 after acquiring an additional 103,713 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Knife River by 12,902.2% in the third quarter. International Assets Investment Management LLC now owns 71,512 shares of the company's stock valued at $6,392,000 after purchasing an additional 70,962 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake 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. 80.11% of the stock is owned by hedge funds and other institutional investors.
KNF has been the subject of several recent analyst reports. DA Davidson boosted their price objective on shares of Knife River from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Loop Capital reduced their price target on shares of Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Stephens reaffirmed an "overweight" rating and set a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Finally, Oppenheimer boosted their target price on Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Knife River currently has an average rating of "Moderate Buy" and a consensus target price of $112.50.
Check Out Our Latest Stock Report on KNF
Shares of Knife River stock opened at $101.49 on Friday. The firm's fifty day simple moving average is $102.22 and its 200-day simple moving average is $93.68. 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 $5.75 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.45 and a beta of 0.76. 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 (NYSE:KNF - Get Free Report) last announced 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 net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million during the quarter, compared to analysts' expectations of $655.80 million. As a group, equities analysts forecast that Knife River Co. will post 4.11 earnings per share for the current year.
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.
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