Knife River Co. (NYSE:KNF) Stake Reduced by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its stake in Knife River Co. (NYSE:KNF) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 16,445 shares of the company’s stock after selling 550 shares during the quarter. Moors & Cabot Inc.’s holdings in Knife River were worth $1,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after buying an additional 176 shares in the last quarter. Huntington National Bank grew its stake in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares in the last quarter. International Assets Investment Management LLC bought a new position in Knife River during the second quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Knife River in the second quarter worth $43,000. Finally, Sittner & Nelson LLC lifted its position in shares of Knife River by 18.5% during the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

KNF has been the subject of several analyst reports. Oppenheimer raised their target price on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. DA Davidson increased their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Loop Capital dropped their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Knife River Stock Performance

Shares of KNF opened at $100.52 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. Knife River Co. has a 12 month low of $57.49 and a 12 month high of $103.33. The firm has a fifty day simple moving average of $92.28 and a 200 day simple moving average of $80.37. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.63 and a beta of 0.74.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 EPS. Research analysts forecast that Knife River Co. will post 3.57 EPS for the current fiscal year.

Knife River 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.