Knife River (NYSE:KNF) Reaches New 12-Month High – Here’s What Happened

Knife River Co. (NYSE:KNF)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $93.94 and last traded at $93.94, with a volume of 3053 shares traded. The stock had previously closed at $93.16.

Knife River Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. The company has a market capitalization of $5.33 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The stock’s 50 day simple moving average is $82.33 and its 200-day simple moving average is $77.40.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities analysts forecast that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of Knife River

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Knife River by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock worth $400,004,000 after buying an additional 503,892 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after buying an additional 224,373 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Knife River by 122.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after buying an additional 450,574 shares during the period. Hood River Capital Management LLC increased its stake in shares of Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after buying an additional 38,152 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Knife River by 37.5% during the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after buying an additional 104,720 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

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.