Arizona State Retirement System Acquires 542 Shares of Knife River Co. (NYSE:KNF)

Arizona State Retirement System lifted its holdings in Knife River Co. (NYSE:KNF) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,232 shares of the company’s stock after acquiring an additional 542 shares during the period. Arizona State Retirement System’s holdings in Knife River were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of Knife River in the 4th quarter worth about $35,000. Quent Capital LLC acquired a new stake in shares of Knife River in the 3rd quarter valued at about $32,000. Lazard Asset Management LLC acquired a new stake in shares of Knife River in the 2nd quarter valued at about $28,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Knife River in the 3rd quarter valued at about $34,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Knife River in the 4th quarter valued at about $53,000. 80.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America assumed coverage on Knife River in a research note on Friday, January 5th. They issued a “buy” rating and a $81.00 target price for the company. Siebert Williams Shank raised their target price on Knife River from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Wolfe Research assumed coverage on Knife River in a research note on Friday, March 8th. They issued a “peer perform” rating for the company. Oppenheimer raised their target price on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Loop Capital began coverage on Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $76.20.

Knife River Price Performance

KNF stock opened at $78.75 on Wednesday. The company has a market capitalization of $4.46 billion and a P/E ratio of -0.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.71 and a current ratio of 2.63. Knife River Co. has a 52-week low of $33.67 and a 52-week high of $83.78. The business has a 50-day simple moving average of $75.41 and a two-hundred day simple moving average of $64.98.

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

About Knife River

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.