Fox Run Management L.L.C. Acquires New Shares in Knife River Corporation (NYSE:KNF)

Fox Run Management L.L.C. acquired a new stake in Knife River Corporation (NYSE:KNF) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,548 shares of the company’s stock, valued at approximately $681,000.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Knife River by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company’s stock valued at $14,012,000 after buying an additional 697 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Knife River by 14.8% during the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company’s stock valued at $389,000 after buying an additional 555 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Knife River during the 1st quarter valued at $206,000. Wealth Enhancement Advisory Services LLC raised its stake in Knife River by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company’s stock valued at $729,000 after buying an additional 485 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Knife River by 99.3% during the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company’s stock valued at $97,000 after buying an additional 535 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Down 1.0%

NYSE:KNF opened at $90.06 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 6.56 and a beta of 0.63. Knife River Corporation has a one year low of $73.91 and a one year high of $108.83. The business has a fifty day moving average price of $83.02 and a 200-day moving average price of $90.53.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.38). The company had revenue of $833.80 million during the quarter, compared to analysts’ expectations of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.37 earnings per share. Sell-side analysts forecast that Knife River Corporation will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KNF shares. Royal Bank Of Canada started coverage on shares of Knife River in a research note on Monday, June 16th. They set an “outperform” rating and a $129.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Knife River from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Finally, DA Davidson reduced their price objective on Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, June 10th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River presently has a consensus rating of “Buy” and a consensus price target of $114.33.

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.