Oliver Luxxe Assets LLC Sells 8,957 Shares of Knife River Corporation $KNF

Oliver Luxxe Assets LLC cut its position in shares of Knife River Corporation (NYSE:KNF) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,215 shares of the company’s stock after selling 8,957 shares during the period. Oliver Luxxe Assets LLC’s holdings in Knife River were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in KNF. Teacher Retirement System of Texas lifted its stake in Knife River by 127.2% in the second quarter. Teacher Retirement System of Texas now owns 128,785 shares of the company’s stock worth $10,514,000 after acquiring an additional 72,108 shares during the period. Franklin Resources Inc. increased its position in Knife River by 27.2% during the 2nd quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock valued at $55,998,000 after purchasing an additional 146,782 shares during the period. DMKC Advisory Services LLC bought a new stake in shares of Knife River in the 2nd quarter valued at about $358,000. Rhumbline Advisers lifted its position in shares of Knife River by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock worth $14,825,000 after purchasing an additional 4,889 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Knife River by 25.0% in the 2nd quarter. Asset Management One Co. Ltd. now owns 68,624 shares of the company’s stock worth $5,602,000 after purchasing an additional 13,703 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Up 3.0%

Knife River stock opened at $79.75 on Friday. Knife River Corporation has a 1-year low of $58.72 and a 1-year high of $108.83. The business has a fifty day moving average price of $72.89 and a 200-day moving average price of $76.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.39 and a quick ratio of 1.47. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.31 and a beta of 0.47.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Equities research analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KNF shares. Oppenheimer cut their price objective on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Royal Bank Of Canada reduced their price target on Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. began coverage on Knife River in a research report on Thursday, December 4th. They set a “neutral” rating and a $83.00 price objective on the stock. UBS Group upgraded shares of Knife River to an “overweight” rating in a report on Tuesday, November 4th. Finally, DA Davidson decreased their price target 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. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Knife River currently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Knife River Company 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.