Thrivent Financial for Lutherans Grows Stake in Knife River Co. (NYSE:KNF)

Thrivent Financial for Lutherans increased its holdings in shares of Knife River Co. (NYSE:KNF) by 306.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,661 shares of the company’s stock after purchasing an additional 43,486 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of Knife River worth $4,044,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its holdings in Knife River by 0.3% during the first quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock worth $5,759,000 after purchasing an additional 185 shares in the last quarter. Oliver Luxxe Assets LLC grew its holdings in shares of Knife River by 1.2% during the first quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock worth $1,418,000 after purchasing an additional 206 shares during the last quarter. Arizona State Retirement System increased its position in shares of Knife River by 1.9% during the second quarter. Arizona State Retirement System now owns 15,048 shares of the company’s stock worth $1,055,000 after purchasing an additional 280 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of Knife River by 0.3% during the first quarter. Kennedy Capital Management LLC now owns 109,821 shares of the company’s stock worth $8,904,000 after purchasing an additional 299 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Knife River by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock valued at $1,123,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens began coverage on Knife River in a research report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Knife River Price Performance

Shares of KNF opened at $89.07 on Friday. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 2.17 and a beta of 0.81. Knife River Co. has a fifty-two week low of $46.51 and a fifty-two week high of $93.77. The firm has a 50-day simple moving average of $79.01 and a 200-day simple moving average of $76.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51.

Knife River (NYSE:KNF) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $803.81 million. During the same period last year, the business posted $1.00 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Knife River Co. will post 3.72 earnings per share for the current 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.