Cerity Partners LLC Purchases New Position in Knife River Co. (NYSE:KNF)

Cerity Partners LLC purchased a new stake in shares of Knife River Co. (NYSE:KNF) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,173 shares of the company’s stock, valued at approximately $541,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cascade Investment Advisors Inc. increased its position in shares of Knife River by 1.4% during the fourth quarter. Cascade Investment Advisors Inc. now owns 16,157 shares of the company’s stock valued at $1,069,000 after buying an additional 225 shares during the period. Victory Capital Management Inc. increased its position in shares of Knife River by 2.9% during the third quarter. Victory Capital Management Inc. now owns 9,441 shares of the company’s stock valued at $461,000 after buying an additional 265 shares during the period. CWM LLC grew its holdings in Knife River by 18.7% in the third quarter. CWM LLC now owns 1,986 shares of the company’s stock worth $97,000 after purchasing an additional 313 shares during the period. Private Advisor Group LLC grew its holdings in Knife River by 3.5% in the third quarter. Private Advisor Group LLC now owns 11,496 shares of the company’s stock worth $561,000 after purchasing an additional 394 shares during the period. Finally, Swiss National Bank grew its holdings in Knife River by 0.4% in the third quarter. Swiss National Bank now owns 105,698 shares of the company’s stock worth $5,161,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 1.8 %

KNF opened at $77.06 on Thursday. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. Knife River Co. has a 1-year low of $33.67 and a 1-year high of $83.78. The company has a market capitalization of $4.36 billion and a PE ratio of -0.15. The firm’s 50 day simple moving average is $76.51 and its two-hundred day simple moving average is $66.05.

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

Analyst Ratings Changes

KNF has been the topic of a number of recent research reports. Loop Capital initiated coverage on shares of Knife River in a report on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price objective on the stock. Oppenheimer upped their target price on shares of Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Bank of America initiated coverage on shares of Knife River in a research note on Friday, January 5th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Wolfe Research initiated coverage on shares of Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.20.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.