Gabelli Funds LLC Acquires 9,990 Shares of Knife River Corporation $KNF

Gabelli Funds LLC lifted its holdings in Knife River Corporation (NYSE:KNF) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,530 shares of the company’s stock after acquiring an additional 9,990 shares during the period. Gabelli Funds LLC owned 0.22% of Knife River worth $10,086,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KNF. Price T Rowe Associates Inc. MD lifted its holdings in Knife River by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,915,131 shares of the company’s stock worth $275,431,000 after purchasing an additional 123,594 shares in the last quarter. State Street Corp grew its holdings in Knife River by 0.6% during 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Knife River by 57.7% during 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Knife River by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company’s stock valued at $119,579,000 after buying an additional 73,028 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Knife River by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company’s stock worth $99,730,000 after buying an additional 9,125 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 0.1%

Shares of KNF opened at $77.96 on Monday. The stock has a market capitalization of $4.42 billion, a PE ratio of 30.34, a P/E/G ratio of 1.40 and a beta of 0.37. The company’s fifty day moving average is $80.06 and its 200 day moving average is $81.44. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $96.28.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price target on shares of Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price objective on shares of Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Oppenheimer began coverage on Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Royal Bank Of Canada decreased their target price 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. One equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.14.

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.