Knife River Corporation (NYSE:KNF) Stake Lowered by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC decreased its stake in Knife River Corporation (NYSE:KNF) by 1.7% during the 1st quarter, HoldingsChannel reports. The firm owned 7,865 shares of the company’s stock after selling 140 shares during the period. Clear Creek Financial Management LLC’s holdings in Knife River were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KNF. Jones Financial Companies Lllp increased its position in Knife River by 40.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock worth $169,000 after buying an additional 476 shares during the period. Patten Group Inc. increased its holdings in shares of Knife River by 5.2% in the 4th quarter. Patten Group Inc. now owns 10,396 shares of the company’s stock worth $1,057,000 after acquiring an additional 515 shares during the period. Keybank National Association OH increased its holdings in shares of Knife River by 20.9% in the 4th quarter. Keybank National Association OH now owns 2,765 shares of the company’s stock worth $281,000 after acquiring an additional 478 shares during the period. Atria Investments Inc lifted its position in Knife River by 11.6% in the 4th quarter. Atria Investments Inc now owns 5,868 shares of the company’s stock valued at $596,000 after purchasing an additional 610 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in Knife River during the 4th quarter valued at about $248,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Up 0.8%

KNF stock opened at $82.26 on Wednesday. The firm’s 50-day moving average is $91.08 and its two-hundred day moving average is $94.87. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. Knife River Corporation has a 52 week low of $67.22 and a 52 week high of $108.83. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The firm had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. Knife River had a return on equity of 12.83% and a net margin of 6.18%. Knife River’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.84) EPS. On average, analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KNF shares. Wells Fargo & Company raised their price target on shares of Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. DA Davidson lowered their target price on Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 10th. Finally, Royal Bank Of Canada began coverage on Knife River in a research note on Monday, June 16th. They set an “outperform” rating and a $129.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, Knife River presently has a consensus rating of “Buy” and an average price target of $117.17.

Knife River Profile

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.