Knife River Corporation (NYSE:KNF) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Knife River Corporation (NYSE:KNF) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,631 shares of the company’s stock after purchasing an additional 175 shares during the period. State of Alaska Department of Revenue’s holdings in Knife River were worth $598,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Knife River during the 1st quarter worth approximately $26,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Knife River by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company’s stock valued at $729,000 after purchasing an additional 485 shares during the period. Fifth Third Bancorp grew its holdings in shares of Knife River by 19.1% in the first quarter. Fifth Third Bancorp now owns 661 shares of the company’s stock valued at $60,000 after purchasing an additional 106 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Knife River by 32.3% in the first quarter. Handelsbanken Fonder AB now owns 16,800 shares of the company’s stock valued at $1,516,000 after purchasing an additional 4,100 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Knife River in the first quarter valued at about $718,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

Shares of KNF stock opened at $82.94 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94. The firm has a market cap of $4.70 billion, a P/E ratio of 26.16, a P/E/G ratio of 2.25 and a beta of 0.84. The firm’s 50 day moving average price is $91.26 and its 200-day moving average price is $95.18. Knife River Corporation has a one year low of $67.22 and a one year high of $108.83.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share 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 return on equity of 12.83% and a net margin of 6.18%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.84) EPS. As a group, equities research analysts predict that Knife River Corporation will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KNF shares. Royal Bank Of Canada started coverage on shares of Knife River in a report on Monday, June 16th. They issued an “outperform” rating and a $129.00 price objective for the company. DA Davidson dropped 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, Wells Fargo & Company upped their price objective on shares of Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.