UBS Group AG Decreases Position in Knife River Corporation $KNF

UBS Group AG lowered its stake in shares of Knife River Corporation (NYSE:KNF) by 46.4% in the 4th quarter, HoldingsChannel reports. The firm owned 167,986 shares of the company’s stock after selling 145,476 shares during the quarter. UBS Group AG’s holdings in Knife River were worth $11,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of KNF. Baillie Gifford & Co. purchased a new stake in shares of Knife River during the 3rd quarter worth approximately $169,020,000. Voss Capital LP purchased a new stake in shares of Knife River during the 3rd quarter worth approximately $33,823,000. Paradice Investment Management LLC purchased a new position in Knife River in the 4th quarter valued at approximately $22,001,000. M&T Bank Corp grew its stake in Knife River by 325.5% in the 4th quarter. M&T Bank Corp now owns 297,798 shares of the company’s stock valued at $20,950,000 after buying an additional 227,804 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Knife River by 30.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock valued at $64,311,000 after buying an additional 182,462 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 5.2%

Knife River stock opened at $75.77 on Friday. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $101.10. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 1.43 and a beta of 0.55. The company has a current ratio of 2.67, a quick ratio of 1.31 and a debt-to-equity ratio of 0.91. The firm has a 50 day simple moving average of $83.76 and a 200 day simple moving average of $78.35.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.02. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The firm had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. During the same period last year, the firm earned ($1.21) EPS. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts predict that Knife River Corporation will post 3.33 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on KNF shares. Weiss Ratings lowered shares of Knife River from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. DA Davidson lifted their price objective on shares of Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company reduced their price objective on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 15th. Royal Bank Of Canada lifted their price objective on shares of Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, Stephens lifted their price objective on shares of Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.00.

Knife River Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.