Meixler Investment Management Ltd. Makes New $1.61 Million Investment in Knife River Corporation $KNF

Meixler Investment Management Ltd. purchased a new position in shares of Knife River Corporation (NYSE:KNF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,930 shares of the company’s stock, valued at approximately $1,609,000. Knife River makes up about 1.0% of Meixler Investment Management Ltd.’s investment portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. boosted its stake in Knife River by 158.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 220,512 shares of the company’s stock valued at $16,951,000 after acquiring an additional 135,194 shares in the last quarter. Carlson Capital L.P. lifted its position in shares of Knife River by 266.7% during the 3rd quarter. Carlson Capital L.P. now owns 11,000 shares of the company’s stock valued at $846,000 after acquiring an additional 8,000 shares during the period. Portside Wealth Group LLC boosted its position in shares of Knife River by 20.0% in the 3rd quarter. Portside Wealth Group LLC now owns 4,159 shares of the company’s stock worth $320,000 after buying an additional 692 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Knife River by 394.4% during the third quarter. Bessemer Group Inc. now owns 1,691 shares of the company’s stock valued at $130,000 after buying an additional 1,349 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Knife River by 141.8% during the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

Shares of NYSE KNF opened at $80.00 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. Knife River Corporation has a 12 month low of $58.72 and a 12 month high of $105.99. The business’s 50 day moving average is $74.96 and its two-hundred day moving average is $75.41. The company has a market cap of $4.53 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.34 and a beta of 0.47.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Wells Fargo & Company decreased their target price on Knife River from $81.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. UBS Group raised Knife River to an “overweight” rating in a report on Tuesday, November 4th. Finally, B. Riley Financial started coverage on Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price objective for the company. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $95.71.

Knife River 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.