Knife River Corporation $KNF Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in Knife River Corporation (NYSE:KNF) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,140 shares of the company’s stock after buying an additional 9,413 shares during the period. Gabelli Funds LLC owned approximately 0.20% of Knife River worth $8,543,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KNF. Register Financial Advisors LLC lifted its position in Knife River by 117.8% during the 3rd quarter. Register Financial Advisors LLC now owns 36,115 shares of the company’s stock worth $2,776,000 after acquiring an additional 19,536 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Knife River by 27.2% in the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock worth $55,998,000 after acquiring an additional 146,782 shares during the period. Clear Creek Financial Management LLC grew its position in Knife River by 103.2% in the third quarter. Clear Creek Financial Management LLC now owns 15,486 shares of the company’s stock valued at $1,190,000 after acquiring an additional 7,866 shares in the last quarter. Rhumbline Advisers grew its position in Knife River by 2.8% in the second quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock valued at $14,825,000 after acquiring an additional 4,889 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Knife River by 60.7% during the second quarter. Boston Partners now owns 383,065 shares of the company’s stock valued at $31,518,000 after purchasing an additional 144,680 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Trading Down 4.6%

NYSE KNF opened at $80.19 on Monday. Knife River Corporation has a 12 month low of $58.72 and a 12 month high of $103.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.26. The company’s fifty day moving average price is $79.39 and its two-hundred day moving average price is $75.32.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KNF shares. JPMorgan Chase & Co. boosted their target price on shares of Knife River from $83.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday. DA Davidson raised their price target on shares of Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a report 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 report on Wednesday, February 18th. Finally, Wells Fargo & Company downgraded Knife River from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $75.00 to $81.00 in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Knife River currently has an average rating of “Moderate Buy” and an average price target of $97.43.

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.