Lisanti Capital Growth LLC Sells 26,085 Shares of Knife River Co. (NYSE:KNF)

Lisanti Capital Growth LLC cut its position in Knife River Co. (NYSE:KNF) by 35.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 46,755 shares of the company’s stock after selling 26,085 shares during the period. Lisanti Capital Growth LLC’s holdings in Knife River were worth $3,279,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KNF. Retirement Systems of Alabama grew its position in shares of Knife River by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock valued at $5,759,000 after acquiring an additional 185 shares during the period. Oliver Luxxe Assets LLC raised its stake in Knife River by 1.2% in the first quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock valued at $1,418,000 after buying an additional 206 shares during the period. Kennedy Capital Management LLC lifted its position in shares of Knife River by 0.3% in the first quarter. Kennedy Capital Management LLC now owns 109,821 shares of the company’s stock valued at $8,904,000 after buying an additional 299 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Knife River by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock worth $1,123,000 after acquiring an additional 300 shares during the last quarter. Finally, Hudson Value Partners LLC raised its stake in Knife River by 0.8% in the 1st quarter. Hudson Value Partners LLC now owns 48,322 shares of the company’s stock valued at $3,918,000 after acquiring an additional 360 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Knife River Stock Performance

KNF traded up $1.25 during trading on Friday, hitting $78.87. The stock had a trading volume of 191,564 shares, compared to its average volume of 283,395. Knife River Co. has a one year low of $46.51 and a one year high of $83.78. 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 firm has a market cap of $4.46 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.97 and a beta of 0.83. The company has a 50 day moving average price of $74.81 and a 200-day moving average price of $74.91.

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

Knife River Company 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.