Voss Capital LP Purchases New Holdings in Knife River Corporation $KNF

Voss Capital LP acquired a new stake in shares of Knife River Corporation (NYSE:KNF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 440,000 shares of the company’s stock, valued at approximately $33,823,000. Knife River comprises 1.6% of Voss Capital LP’s portfolio, making the stock its 14th largest holding. Voss Capital LP owned approximately 0.78% of Knife River as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new stake in shares of Knife River during the third quarter worth approximately $169,020,000. State Street Corp grew its position 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. Geode Capital Management LLC increased its stake in Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock valued at $113,960,000 after buying an additional 15,464 shares during the period. Invesco Ltd. increased its stake in Knife River by 2.9% in the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock valued at $103,914,000 after buying an additional 35,900 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Knife River by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,247,486 shares of the company’s stock worth $95,880,000 after buying an additional 31,560 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Performance

NYSE KNF opened at $83.06 on Wednesday. The business has a 50 day moving average price of $80.51 and a 200 day moving average price of $75.02. The company has a market capitalization of $4.71 billion, a P/E ratio of 30.09, a PEG ratio of 1.82 and a beta of 0.27. Knife River Corporation has a 1-year low of $58.72 and a 1-year 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.

Knife River (NYSE:KNF) last posted its earnings results 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 in the previous year, the business earned $0.41 earnings per share. Knife River’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts expect that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stephens lifted their target price on shares of Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Wells Fargo & Company cut shares of Knife River from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $75.00 to $81.00 in a report on Wednesday, February 18th. DA Davidson raised their price objective on shares of Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded Knife River from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada increased their target price on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and an average target price 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.