Baillie Gifford & Co. Takes Position in Knife River Corporation $KNF

Baillie Gifford & Co. bought a new position in Knife River Corporation (NYSE:KNF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,198,771 shares of the company’s stock, valued at approximately $169,020,000. Baillie Gifford & Co. owned 3.88% of Knife River at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of KNF. Country Trust Bank acquired a new position in Knife River in the 2nd quarter worth about $40,000. Quent Capital LLC acquired a new position in Knife River during the 3rd quarter worth $47,000. GHP Investment Advisors Inc. bought a new stake in Knife River during the 2nd quarter valued at approximately $48,000. Hilltop National Bank acquired a new stake in shares of Knife River in the second quarter worth $52,000. Finally, Huntington National Bank increased its holdings in shares of Knife River by 35.5% during the 2nd quarter. Huntington National Bank now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 184 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 3.3%

Shares of KNF stock opened at $73.45 on Friday. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $106.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.25 and a beta of 0.47. The firm’s 50-day moving average is $74.79 and its 200-day moving average is $75.99.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.07. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Sell-side analysts predict that Knife River Corporation will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wells Fargo & Company restated an “equal weight” rating and issued a $81.00 target price (up from $75.00) on shares of Knife River in a research note on Tuesday, January 13th. DA Davidson dropped their price objective on shares of Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. B. Riley initiated coverage on Knife River in a report on Thursday, January 15th. They set a “buy” rating and a $92.00 price objective for the company. Finally, Wall Street Zen lowered Knife River from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.57.

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.