Investors Research Corp Sells 2,356 Shares of Knife River Co. (NYSE:KNF)

Investors Research Corp decreased its position in Knife River Co. (NYSE:KNF) by 57.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,725 shares of the company’s stock after selling 2,356 shares during the quarter. Investors Research Corp’s holdings in Knife River were worth $114,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in KNF. BlackRock Inc. bought a new position in Knife River in the second quarter worth $256,508,000. State Street Corp bought a new position in shares of Knife River during the second quarter valued at $74,029,000. Northern Trust Corp bought a new position in shares of Knife River during the second quarter valued at $25,380,000. Goldman Sachs Group Inc. bought a new position in shares of Knife River during the second quarter valued at $16,935,000. Finally, Citadel Advisors LLC bought a new position in shares of Knife River during the second quarter valued at $15,431,000. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 2.2 %

Knife River stock opened at $78.75 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. Knife River Co. has a one year low of $33.67 and a one year high of $83.78. The business’s fifty day moving average is $75.41 and its 200 day moving average is $64.98.

Knife River (NYSE:KNF) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The company had revenue of $646.90 million for the quarter, compared to analysts’ expectations of $566.47 million. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Knife River Co. will post 3.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KNF has been the subject of several analyst reports. Bank of America initiated coverage on Knife River in a report on Friday, January 5th. They set a “buy” rating and a $81.00 price target for the company. Siebert Williams Shank raised their price target on Knife River from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, December 26th. Oppenheimer raised their price target on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Loop Capital initiated coverage on Knife River in a report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price target for the company. Finally, Wolfe Research initiated coverage on Knife River in a report on Friday, March 8th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.20.

Knife River Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.