Carlson Capital L.P. Buys 8,000 Shares of Knife River Corporation $KNF

Carlson Capital L.P. grew its stake in Knife River Corporation (NYSE:KNF) by 266.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,000 shares of the company’s stock after buying an additional 8,000 shares during the period. Knife River accounts for about 0.3% of Carlson Capital L.P.’s holdings, making the stock its 21st largest position. Carlson Capital L.P.’s holdings in Knife River were worth $846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new stake in shares of Knife River in the third quarter valued at about $169,020,000. State Street Corp raised its holdings in Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after acquiring an additional 12,308 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock worth $113,960,000 after acquiring an additional 15,464 shares during the period. Invesco Ltd. lifted its position in shares of Knife River by 2.9% in the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock worth $103,914,000 after acquiring an additional 35,900 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Knife River by 30.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KNF shares. JPMorgan Chase & Co. assumed coverage on Knife River in a research note on Thursday, December 4th. They issued a “neutral” rating and a $83.00 target price for the company. B. Riley Financial started coverage on shares of Knife River in a research note on Thursday, January 15th. They issued a “buy” rating and a $92.00 price objective for the company. UBS Group upgraded shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.71.

Knife River Stock Up 4.9%

Shares of NYSE:KNF opened at $80.00 on Friday. The company’s fifty day moving average is $74.96 and its 200-day moving average is $75.50. 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 Corporation has a 52 week low of $58.72 and a 52 week high of $105.99. The company has a market capitalization of $4.53 billion, a PE ratio of 30.65, a P/E/G ratio of 1.28 and a beta of 0.47.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.07. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. Knife River had a net margin of 4.87% and a return on equity of 9.97%. Equities research analysts predict that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.