Voss Capital LP Purchases Shares of 440,000 Knife River Corporation $KNF

Voss Capital LP purchased a new stake in Knife River Corporation (NYSE:KNF) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 440,000 shares of the company’s stock, valued at approximately $33,823,000. Knife River comprises 1.6% of Voss Capital LP’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its stake in Knife River by 141.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Country Trust Bank purchased a new stake in shares of Knife River in the second quarter valued at $40,000. Quent Capital LLC purchased a new stake in shares of Knife River in the third quarter valued at $47,000. UMB Bank n.a. boosted its stake in shares of Knife River by 124.5% during the third quarter. UMB Bank n.a. now owns 743 shares of the company’s stock valued at $57,000 after acquiring an additional 412 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Knife River by 1,365.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,363 shares of the company’s stock worth $113,000 after purchasing an additional 1,270 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

NYSE:KNF opened at $83.06 on Wednesday. The company has a market cap of $4.71 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.82 and a beta of 0.27. The firm’s 50 day moving average is $80.51 and its two-hundred day moving average is $75.02. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $103.18. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The company had revenue of $755.06 million for the quarter, compared to the consensus estimate of $726.60 million. During the same period last year, the business posted $0.41 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts expect that Knife River Corporation will post 4.11 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stephens upped their price objective on shares of Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of Knife River from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Finally, B. Riley Financial began coverage on Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Knife River currently has an average rating of “Moderate Buy” and an average price target of $97.43.

About Knife River

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.