Investors Research Corp Trims Holdings in Knife River Co. (NYSE:KNF)

Investors Research Corp cut its position in Knife River Co. (NYSE:KNF) by 57.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,725 shares of the company’s stock after selling 2,356 shares during the period. Investors Research Corp’s holdings in Knife River were worth $114,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KNF. BlackRock Inc. acquired a new stake in shares of Knife River in the second quarter valued at $256,508,000. State Street Corp acquired a new stake in shares of Knife River in the second quarter valued at $74,029,000. Northern Trust Corp acquired a new stake in shares of Knife River in the second quarter valued at $25,380,000. Goldman Sachs Group Inc. acquired a new stake in shares of Knife River in the second quarter valued at $16,935,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Knife River in the second quarter valued at $15,431,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KNF has been the subject of a number of research reports. Loop Capital began coverage on Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price objective for the company. Wolfe Research began coverage on Knife River in a research note on Friday, March 8th. They set a “peer perform” rating for the company. Bank of America began coverage on Knife River in a research note on Friday, January 5th. They set a “buy” rating and a $81.00 target price for the company. Oppenheimer boosted their target price on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Siebert Williams Shank boosted their target price on Knife River from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Knife River has an average rating of “Moderate Buy” and a consensus target price of $76.20.

Knife River Stock Down 2.2 %

NYSE:KNF opened at $78.75 on Wednesday. The stock has a 50-day simple moving average of $75.41 and a 200-day simple moving average of $64.98. Knife River Co. has a 1 year low of $33.67 and a 1 year high of $83.78. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53.

Knife River (NYSE:KNF) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.16. The business had revenue of $646.90 million during the quarter, compared to analysts’ expectations of $566.47 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Knife River Co. will post 3.5 earnings per share for the current 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 six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.