Foster & Motley Inc. Decreases Stock Holdings in Knife River Co. (NYSE:KNF)

Foster & Motley Inc. trimmed its stake in shares of Knife River Co. (NYSE:KNF) by 61.0% in the 4th quarter, Holdings Channel reports. The firm owned 3,271 shares of the company’s stock after selling 5,107 shares during the period. Foster & Motley Inc.’s holdings in Knife River were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Knife River by 57.5% during the fourth quarter. CWM LLC now owns 3,128 shares of the company’s stock valued at $207,000 after purchasing an additional 1,142 shares during the last quarter. Xponance Inc. raised its holdings in shares of Knife River by 6.8% during the fourth quarter. Xponance Inc. now owns 8,187 shares of the company’s stock valued at $542,000 after purchasing an additional 522 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Knife River by 4,029.5% during the fourth quarter. Federated Hermes Inc. now owns 251,567 shares of the company’s stock valued at $16,649,000 after purchasing an additional 245,475 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Knife River during the fourth quarter valued at approximately $215,000. Finally, Strs Ohio increased its holdings in Knife River by 62.5% during the fourth quarter. Strs Ohio now owns 3,900 shares of the company’s stock valued at $258,000 after buying an additional 1,500 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Price Performance

KNF opened at $77.62 on Friday. Knife River Co. has a 1-year low of $33.67 and a 1-year high of $83.78. The company has a 50 day simple moving average of $76.67 and a two-hundred day simple moving average of $66.13. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53.

Knife River (NYSE:KNF) last issued its earnings results on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The firm had revenue of $646.90 million during the quarter, compared to analyst estimates of $566.47 million. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Knife River Co. will post 3.5 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Loop Capital assumed coverage on shares of Knife River in a report on Tuesday, February 13th. They set a “buy” rating and a $81.00 target price for the company. Bank of America assumed coverage on shares of Knife River in a report on Friday, January 5th. They set a “buy” rating and a $81.00 target price for the company. Oppenheimer upped their target price on shares of Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Wolfe Research assumed coverage on shares of Knife River in a research report on Friday, March 8th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Knife River presently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

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.