Aberdeen Group plc Has $8.33 Million Stake in Knife River Corporation $KNF

Aberdeen Group plc lessened its stake in Knife River Corporation (NYSE:KNF) by 56.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,642 shares of the company’s stock after selling 148,012 shares during the period. Aberdeen Group plc owned 0.20% of Knife River worth $8,333,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. acquired a new stake in shares of Knife River in the 3rd quarter valued at $169,020,000. Norges Bank bought a new stake in Knife River during the 2nd quarter worth about $53,260,000. Ameriprise Financial Inc. raised its holdings in Knife River by 30.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares during the last quarter. Raymond James Financial Inc. lifted its position in Knife River by 71.0% during the 2nd quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock valued at $28,971,000 after purchasing an additional 147,387 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Knife River by 27.2% in the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after purchasing an additional 146,782 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KNF shares. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Wells Fargo & Company downgraded Knife River from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $75.00 to $81.00 in a research note on Wednesday. Wall Street Zen cut Knife River from a “hold” rating to a “sell” rating in a research note on Sunday, February 15th. UBS Group raised Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Finally, DA Davidson raised their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.43.

Knife River Stock Performance

Shares of KNF opened at $90.71 on Friday. The firm has a market cap of $5.14 billion, a P/E ratio of 32.87, a PEG ratio of 2.03 and a beta of 0.47. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $103.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.47 and a current ratio of 2.54. The firm’s 50 day moving average price is $76.79 and its two-hundred day moving average price is $75.65.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. On average, analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Knife River Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.