Hodges Capital Management Inc. Increases Stake in Knife River Corporation $KNF

Hodges Capital Management Inc. boosted its stake in Knife River Corporation (NYSE:KNF) by 4.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,155 shares of the company’s stock after purchasing an additional 830 shares during the quarter. Hodges Capital Management Inc.’s holdings in Knife River were worth $1,645,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Knife River by 4,145.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock valued at $150,456,000 after purchasing an additional 1,628,535 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Knife River by 129.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company’s stock worth $95,026,000 after buying an additional 593,431 shares during the last quarter. Nuveen LLC purchased a new position in shares of Knife River in the 1st quarter worth $38,521,000. Invesco Ltd. boosted its holdings in Knife River by 40.6% in the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company’s stock valued at $111,583,000 after acquiring an additional 357,133 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Knife River by 19.7% in the first quarter. American Century Companies Inc. now owns 1,062,743 shares of the company’s stock valued at $95,870,000 after acquiring an additional 175,063 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group upgraded Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. Wells Fargo & Company raised shares of Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 price target on the stock in a research report on Tuesday, November 4th. DA Davidson decreased their price objective on shares of Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Finally, Oppenheimer cut their target price on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Knife River presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Knife River Stock Performance

Knife River stock opened at $70.89 on Monday. The firm has a market capitalization of $4.02 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 1.45 and a beta of 0.53. Knife River Corporation has a one year low of $58.72 and a one year high of $108.83. The stock’s 50 day moving average price is $71.12 and its 200 day moving average price is $81.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a net margin of 4.87% and a return on equity of 9.97%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. Knife River has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Knife River Corporation will post 4.11 EPS for the current fiscal 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.