UMB Bank n.a. Purchases 400 Shares of Knife River Co. (NYSE:KNF)

UMB Bank n.a. boosted its stake in Knife River Co. (NYSE:KNF) by 239.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567 shares of the company’s stock after purchasing an additional 400 shares during the quarter. UMB Bank n.a.’s holdings in Knife River were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in shares of Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after purchasing an additional 603,170 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Knife River by 830.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock valued at $111,965,000 after purchasing an additional 983,223 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in shares of Knife River by 1.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company’s stock valued at $105,121,000 after buying an additional 17,234 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Knife River by 3.7% during the fourth quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company’s stock worth $99,934,000 after acquiring an additional 34,747 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in Knife River by 4.3% during the 4th quarter. Hood River Capital Management LLC now owns 906,534 shares of the company’s stock valued at $92,140,000 after buying an additional 37,431 shares in the last quarter. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KNF has been the subject of several recent analyst reports. DA Davidson decreased their target price on shares of Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 10th. Wells Fargo & Company raised their target price on Knife River from $102.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $114.80.

Knife River Stock Performance

KNF opened at $80.61 on Friday. The firm has a market cap of $4.57 billion, a P/E ratio of 22.77, a PEG ratio of 2.36 and a beta of 0.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The company has a 50 day simple moving average of $93.34 and a two-hundred day simple moving average of $96.78. Knife River Co. has a 1-year low of $66.51 and a 1-year high of $108.83.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). The company had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $343.98 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned ($0.84) earnings per share. Equities analysts forecast that Knife River Co. will post 4.11 earnings per share 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.