Arcadia Investment Management Corp MI Increases Stock Position in Knife River Co. (NYSE:KNF)

Arcadia Investment Management Corp MI boosted its holdings in Knife River Co. (NYSE:KNF) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,175 shares of the company’s stock after acquiring an additional 997 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Knife River were worth $784,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KNF. Norges Bank purchased a new position in shares of Knife River in the fourth quarter worth approximately $40,548,000. Vanguard Group Inc. grew its position in shares of Knife River by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after acquiring an additional 503,892 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Knife River by 122.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after purchasing an additional 450,574 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in Knife River by 48.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock worth $76,138,000 after purchasing an additional 373,359 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Knife River by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock valued at $92,546,000 after purchasing an additional 199,389 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens initiated coverage on Knife River in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.60.

Knife River Price Performance

Shares of KNF traded down $0.07 during trading hours on Friday, reaching $75.21. 13,982 shares of the stock traded hands, compared to its average volume of 379,968. Knife River Co. has a 52-week low of $46.51 and a 52-week high of $83.78. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. The company has a market cap of $4.26 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.83. The company’s 50-day moving average price is $75.14 and its two-hundred day moving average price is $75.06.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The firm had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, analysts anticipate that Knife River Co. will post 3.64 earnings per share 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.