First Manhattan CO. LLC. Lowers Stock Position in Knife River Co. (NYSE:KNF)

First Manhattan CO. LLC. decreased its holdings in Knife River Co. (NYSE:KNF) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,936 shares of the company’s stock after selling 1,544 shares during the period. First Manhattan CO. LLC.’s holdings in Knife River were worth $6,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC grew its stake in shares of Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after purchasing an additional 227 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Knife River in the fourth quarter worth $79,000. Lee Danner & Bass Inc. bought a new stake in Knife River in the 4th quarter valued at about $109,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Knife River during the fourth quarter valued at approximately $114,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KNF. Stephens reiterated an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company began coverage on shares of Knife River in a report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River presently has a consensus rating of “Buy” and a consensus target price of $110.40.

Knife River Trading Up 1.6 %

Shares of NYSE:KNF opened at $94.91 on Friday. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The company has a market cap of $5.38 billion, a P/E ratio of 26.81, a P/E/G ratio of 2.36 and a beta of 0.96. The stock’s 50-day moving average is $91.39 and its 200-day moving average is $97.21. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The company had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same period last year, the firm posted ($0.84) EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that Knife River Co. will post 4.11 earnings per share for the current year.

About Knife River

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.