Teachers Retirement System of The State of Kentucky Purchases 70,204 Shares of Knife River Corporation $KNF

Teachers Retirement System of The State of Kentucky lifted its position in shares of Knife River Corporation (NYSE:KNF) by 436.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,294 shares of the company’s stock after buying an additional 70,204 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Knife River were worth $6,632,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KNF. Hantz Financial Services Inc. grew its stake in shares of 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 acquiring an additional 200 shares in the last quarter. Country Trust Bank bought a new stake in shares of Knife River in the second quarter worth $40,000. GHP Investment Advisors Inc. acquired a new position in Knife River during the second quarter worth $48,000. Quent Capital LLC acquired a new stake in Knife River in the 3rd quarter valued at $47,000. Finally, Huntington National Bank lifted its position in Knife River by 35.5% during the 2nd quarter. Huntington National Bank now owns 703 shares of the company’s stock worth $57,000 after buying an additional 184 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KNF. Wells Fargo & Company downgraded Knife River from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $75.00 to $81.00 in a research report on Wednesday, February 18th. DA Davidson upped their price objective on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. B. Riley Financial began coverage on shares of Knife River in a research report on Thursday, January 15th. They set a “buy” rating and a $92.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Knife River from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Knife River currently has an average rating of “Moderate Buy” and a consensus target price of $96.43.

Knife River Stock Performance

KNF opened at $88.09 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 2.54. Knife River Corporation has a 52-week low of $58.72 and a 52-week high of $103.18. The firm has a market cap of $4.99 billion, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 2.04 and a beta of 0.27. The business’s fifty day moving average is $78.77 and its 200-day moving average is $75.40.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $755.06 million during the quarter, compared to analysts’ expectations of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Sell-side analysts expect that Knife River Corporation will post 4.11 EPS for the current fiscal year.

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.