Sterling Capital Management LLC Sells 8,066 Shares of Knife River Corporation $KNF

Sterling Capital Management LLC decreased its holdings in Knife River Corporation (NYSE:KNF) by 44.5% in the first quarter, HoldingsChannel.com reports. The fund owned 10,054 shares of the company’s stock after selling 8,066 shares during the period. Sterling Capital Management LLC’s holdings in Knife River were worth $821,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. DMKC Advisory Services LLC increased its position in Knife River by 4.2% during the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock valued at $265,000 after purchasing an additional 150 shares during the period. TIAA Trust National Association lifted its position in shares of Knife River by 5.6% in the 4th quarter. TIAA Trust National Association now owns 3,146 shares of the company’s stock worth $221,000 after purchasing an additional 166 shares during the period. GAMMA Investing LLC lifted its position in shares of Knife River by 34.8% in the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after purchasing an additional 177 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Knife River by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock valued at $285,000 after purchasing an additional 220 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Knife River by 66.3% during the fourth quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after buying an additional 226 shares during the period. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KNF shares. Royal Bank Of Canada decreased their price target on shares of Knife River from $109.00 to $107.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Oppenheimer began coverage on Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Wells Fargo & Company dropped their price target on Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 15th. Finally, Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Knife River currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Knife River Stock Down 0.8%

Shares of Knife River stock opened at $82.94 on Thursday. The company has a 50-day simple moving average of $82.07 and a two-hundred day simple moving average of $80.56. The stock has a market capitalization of $4.71 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.40. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $96.28. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.02. The firm had revenue of $410.13 million for the quarter, compared to analysts’ expectations of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.21) earnings per share. On average, analysts anticipate that Knife River Corporation will post 3.32 EPS for the current fiscal year.

Knife River 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.