GAMMA Investing LLC Grows Stock Holdings in Knife River Corporation (NYSE:KNF)

GAMMA Investing LLC increased its stake in shares of Knife River Corporation (NYSE:KNF) by 99.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,074 shares of the company’s stock after purchasing an additional 535 shares during the period. GAMMA Investing LLC’s holdings in Knife River were worth $97,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in KNF. Jones Financial Companies Lllp raised its holdings in shares of Knife River by 40.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock valued at $169,000 after purchasing an additional 476 shares during the last quarter. Keybank National Association OH increased its holdings in Knife River by 20.9% during the fourth quarter. Keybank National Association OH now owns 2,765 shares of the company’s stock valued at $281,000 after buying an additional 478 shares during the last quarter. Atria Investments Inc increased its holdings in Knife River by 11.6% during the fourth quarter. Atria Investments Inc now owns 5,868 shares of the company’s stock valued at $596,000 after buying an additional 610 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Knife River by 0.8% in the fourth quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock worth $1,586,000 after purchasing an additional 124 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Knife River in the fourth quarter worth approximately $14,600,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNF has been the subject of a number of recent analyst reports. DA Davidson dropped their price target on shares of Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 10th. Royal Bank Of Canada initiated coverage on Knife River in a research note on Monday, June 16th. They issued an “outperform” rating and a $129.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $117.17.

Knife River Price Performance

Knife River stock opened at $80.60 on Monday. The firm has a 50-day moving average price of $90.41 and a 200-day moving average price of $94.39. The firm has a market capitalization of $4.57 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.19 and a beta of 0.63. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. Knife River Corporation has a 12-month low of $67.22 and a 12-month high of $108.83.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The company had revenue of $353.50 million during 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 company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.84) EPS. As a group, equities research analysts forecast that Knife River Corporation will post 4.11 EPS for the current year.

About Knife River

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.