Sequoia Financial Advisors LLC Purchases New Shares in Knife River Corporation $KNF

Sequoia Financial Advisors LLC purchased a new stake in Knife River Corporation (NYSE:KNF) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,344 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group raised its holdings in Knife River by 31,200.0% during the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after purchasing an additional 312 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Knife River during the 1st quarter worth about $35,000. Bessemer Group Inc. raised its holdings in Knife River by 173.9% during the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company’s stock worth $49,000 after purchasing an additional 346 shares during the last quarter. Hilltop National Bank bought a new stake in Knife River during the 2nd quarter worth about $52,000. Finally, Cloud Capital Management LLC bought a new stake in Knife River during the 1st quarter worth about $83,000. 80.11% of the stock is owned by institutional investors.

Knife River Stock Performance

Shares of KNF stock opened at $63.04 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The stock has a market cap of $3.57 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 5.45 and a beta of 0.57. The stock has a 50-day moving average of $76.68 and a 200-day moving average of $84.17. Knife River Corporation has a one year low of $62.69 and a one year high of $108.83.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%.The business had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. During the same period in the previous year, the company posted $1.37 earnings per share. Knife River’s revenue for the quarter was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Knife River Corporation will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on KNF shares. Oppenheimer dropped their price objective on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. DA Davidson dropped their price objective on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Finally, Wells Fargo & Company started coverage on Knife River in a report on Tuesday, October 7th. They set a “cautious” rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.83.

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.