21,346 Shares in Knife River Corporation $KNF Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC bought a new position in shares of Knife River Corporation (NYSE:KNF) in the first quarter, Holdings Channel reports. The firm bought 21,346 shares of the company’s stock, valued at approximately $1,743,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KNF. Price T Rowe Associates Inc. MD raised its position in shares of Knife River by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,915,131 shares of the company’s stock valued at $275,431,000 after purchasing an additional 123,594 shares during the period. State Street Corp grew its stake 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 buying an additional 12,308 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Knife River by 57.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock valued at $124,821,000 after buying an additional 648,979 shares during the last quarter. Geode Capital Management LLC raised its holdings in Knife River by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company’s stock worth $99,730,000 after acquiring an additional 9,125 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Knife River by 11.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,391,662 shares of the company’s stock worth $97,909,000 after acquiring an additional 144,176 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Trading Up 1.4%

Shares of KNF stock opened at $83.45 on Friday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.47 and a beta of 0.37. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $96.28. The firm’s fifty day simple moving average is $80.44 and its 200 day simple moving average is $81.14. The company has a current ratio of 2.67, a quick ratio of 1.31 and a debt-to-equity ratio of 0.91.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.02. The firm had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.21) EPS. As a group, sell-side analysts predict that Knife River Corporation will post 3.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Knife River from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Royal Bank Of Canada lowered their price target on Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Wells Fargo & Company lifted their price objective on Knife River from $80.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price objective on Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Oppenheimer began coverage on Knife River in a research note on Thursday, May 28th. They set an “outperform” rating and a $95.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.14.

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.