Mackenzie Financial Corp Buys New Position in Knife River Co. (NYSE:KNF)

Mackenzie Financial Corp purchased a new position in shares of Knife River Co. (NYSE:KNF) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,830 shares of the company’s stock, valued at approximately $262,000.

Other hedge funds also recently made changes to their positions in the company. Bank of New Hampshire acquired a new position in Knife River during the second quarter worth $27,000. BerganKDV Wealth Management LLC acquired a new position in shares of Knife River during the 2nd quarter worth about $29,000. HM Payson & Co. bought a new position in shares of Knife River in the 2nd quarter valued at about $40,000. Bartlett & Co. LLC acquired a new stake in shares of Knife River in the second quarter valued at about $60,000. Finally, National Bank of Canada FI bought a new stake in Knife River during the second quarter worth about $99,000. 67.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer started coverage on Knife River in a research report on Monday, August 14th. They set an “outperform” rating and a $65.00 price target on the stock. DA Davidson upped their price target on shares of Knife River from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th.

Knife River Price Performance

Shares of NYSE KNF opened at $55.96 on Thursday. Knife River Co. has a twelve month low of $33.67 and a twelve month high of $60.99. The stock’s 50 day simple moving average is $50.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.52 and a current ratio of 2.38.

Knife River (NYSE:KNF) last posted its earnings results on Monday, November 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.72. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. The business’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts expect that Knife River Co. will post 2.42 EPS for the current fiscal year.

Knife River Profile

Knife River Corporation provides aggregates-based 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 services to support the aggregate-based product lines, including heavy-civil construction, asphalt and concrete paving, and site development and grading.