Amalgamated Bank Has $1.92 Million Position in Knife River Co. (NYSE:KNF)

Amalgamated Bank cut its position in Knife River Co. (NYSE:KNF) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,378 shares of the company’s stock after selling 2,286 shares during the period. Amalgamated Bank’s holdings in Knife River were worth $1,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Knife River by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after purchasing an additional 503,892 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of Knife River by 48.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock worth $76,138,000 after acquiring an additional 373,359 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Knife River by 122.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after acquiring an additional 450,574 shares in the last quarter. Norges Bank acquired a new stake in shares of Knife River during the fourth quarter worth $40,548,000. Finally, Federated Hermes Inc. lifted its position in Knife River by 37.5% in the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock valued at $26,949,000 after acquiring an additional 104,720 shares in the last quarter. 80.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Stephens assumed coverage on Knife River in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Knife River presently has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Knife River Stock Performance

Shares of KNF opened at $88.97 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. Knife River Co. has a 12 month low of $46.51 and a 12 month high of $93.77. The firm has a fifty day simple moving average of $78.48 and a 200 day simple moving average of $76.21. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.17 and a beta of 0.81.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The company had revenue of $806.90 million during the quarter, compared to analysts’ expectations of $803.81 million. During the same quarter last year, the company earned $1.00 EPS. Knife River’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts forecast that Knife River Co. will post 3.72 EPS for the current fiscal year.

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.