Retirement Systems of Alabama Grows Stake in Knife River Co. (NYSE:KNF)

Retirement Systems of Alabama grew its holdings in Knife River Co. (NYSE:KNF) by 11.5% during the fourth quarter, HoldingsChannel reports. The fund owned 70,847 shares of the company’s stock after purchasing an additional 7,281 shares during the period. Retirement Systems of Alabama’s holdings in Knife River were worth $4,689,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KNF. State of New Jersey Common Pension Fund D grew its stake in Knife River by 87.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock worth $2,408,000 after buying an additional 23,022 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Knife River during the 3rd quarter worth approximately $893,000. Vanguard Group Inc. grew its stake in Knife River by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock worth $270,532,000 after buying an additional 46,737 shares during the last quarter. Planned Solutions Inc. purchased a new position in Knife River during the 4th quarter worth approximately $53,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in Knife River by 19.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after buying an additional 184,192 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Up 0.0 %

KNF opened at $78.99 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 1.71. The business has a 50 day simple moving average of $77.61 and a 200-day simple moving average of $67.42. The stock has a market capitalization of $4.47 billion and a P/E ratio of -0.15. Knife River Co. has a 12 month low of $33.67 and a 12 month high of $83.78.

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

Analyst Upgrades and Downgrades

KNF has been the topic of a number of research reports. Wolfe Research initiated coverage on Knife River in a research note on Friday, March 8th. They set a “peer perform” rating on the stock. Oppenheimer increased their price objective on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Loop Capital began coverage on Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average target price 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.