Kennedy Capital Management LLC Has $17.84 Million Holdings in Knife River Corporation $KNF

Kennedy Capital Management LLC grew its stake in Knife River Corporation (NYSE:KNF) by 55.1% in the third quarter, HoldingsChannel reports. The fund owned 232,042 shares of the company’s stock after acquiring an additional 82,455 shares during the period. Kennedy Capital Management LLC’s holdings in Knife River were worth $17,837,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Cornerstone Investment Partners LLC grew its stake in shares of Knife River by 5.8% during the third quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company’s stock valued at $226,000 after purchasing an additional 161 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Knife River by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock worth $367,000 after purchasing an additional 170 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Knife River by 141.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Allied Investment Advisors LLC lifted its holdings in Knife River by 4.6% during the 3rd quarter. Allied Investment Advisors LLC now owns 4,722 shares of the company’s stock worth $363,000 after buying an additional 206 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in Knife River by 6.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock valued at $285,000 after buying an additional 220 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KNF has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research report on Thursday, January 22nd. Stephens raised their price target on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Wells Fargo & Company cut Knife River from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $75.00 to $81.00 in a report on Wednesday, February 18th. JPMorgan Chase & Co. upped their target price on shares of Knife River from $83.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average price target of $97.43.

Knife River Trading Up 0.3%

Shares of NYSE:KNF traded up $0.23 during midday trading on Friday, hitting $78.48. The company had a trading volume of 83,274 shares, compared to its average volume of 567,021. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.70. Knife River Corporation has a 12 month low of $58.72 and a 12 month high of $103.18. The firm has a fifty day simple moving average of $80.10 and a 200 day simple moving average of $75.25. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.80 and a beta of 0.27.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The business had revenue of $755.06 million during the quarter, compared to the consensus estimate of $726.60 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, analysts predict that Knife River Corporation will post 4.11 EPS for the current year.

About Knife River

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.