Knife River Co. (NYSE:KNF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in Knife River Co. (NYSE:KNF) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 458,287 shares of the company’s stock after selling 84,616 shares during the quarter. Ameriprise Financial Inc. owned about 0.81% of Knife River worth $46,582,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. acquired a new position in shares of Knife River in the 4th quarter valued at $2,703,000. Drive Wealth Management LLC acquired a new position in shares of Knife River in the 4th quarter valued at $2,062,000. Congress Asset Management Co. boosted its holdings in shares of Knife River by 2.5% in the 4th quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock valued at $70,766,000 after purchasing an additional 16,698 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Knife River in the 4th quarter valued at $14,600,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Knife River by 15.1% in the 4th quarter. Wells Fargo & Company MN now owns 60,940 shares of the company’s stock valued at $6,194,000 after purchasing an additional 7,975 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

NYSE:KNF opened at $94.91 on Monday. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.36 and a beta of 0.96. The firm’s fifty day simple moving average is $91.39 and its 200 day simple moving average is $97.29. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83.

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

Analysts Set New Price Targets

KNF has been the topic of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $120.00 price target 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 set an “overweight” rating and a $102.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $110.40.

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.