SG Americas Securities LLC Invests $718,000 in Knife River Corporation (NYSE:KNF)

SG Americas Securities LLC acquired a new stake in shares of Knife River Corporation (NYSE:KNF) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,963 shares of the company’s stock, valued at approximately $718,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KNF. Versant Capital Management Inc raised its holdings in Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company’s stock worth $29,000 after purchasing an additional 271 shares in the last quarter. State of Wyoming purchased a new stake in Knife River during the 4th quarter valued at about $30,000. Larson Financial Group LLC grew its position in Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares during the last quarter. UMB Bank n.a. lifted its stake in Knife River by 239.5% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the company’s stock valued at $51,000 after acquiring an additional 400 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Knife River by 74.9% during the 1st quarter. Parallel Advisors LLC now owns 628 shares of the company’s stock valued at $57,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of Knife River stock opened at $77.48 on Friday. The business has a 50-day moving average of $92.66 and a 200 day moving average of $96.16. Knife River Corporation has a 12 month low of $66.51 and a 12 month high of $108.83. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.08 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last posted its quarterly earnings results 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). Knife River had a net margin of 6.18% and a return on equity of 12.83%. The company had revenue of $353.50 million during the quarter, compared to analyst estimates of $343.98 million. During the same period in the prior year, the business earned ($0.84) EPS. Knife River’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

KNF has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on shares of Knife River from $102.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. DA Davidson cut their price objective 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. Finally, Royal Bank Of Canada assumed coverage on shares of Knife River in a report on Monday, June 16th. They issued an “outperform” rating and a $129.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Knife River presently has a consensus rating of “Buy” and a consensus target price of $117.17.

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.