Kennedy Capital Management LLC Purchases 82,455 Shares of Knife River Corporation $KNF

Kennedy Capital Management LLC raised its holdings in Knife River Corporation (NYSE:KNF) by 55.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 232,042 shares of the company’s stock after buying an additional 82,455 shares during the quarter. Kennedy Capital Management LLC owned 0.41% of Knife River worth $17,837,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new stake in shares of Knife River during the 3rd quarter valued at about $169,020,000. Norges Bank bought a new stake in Knife River in the second quarter valued at about $53,260,000. Ameriprise Financial Inc. raised its position in Knife River by 30.1% in the second quarter. Ameriprise Financial Inc. now owns 787,736 shares of the company’s stock worth $64,311,000 after purchasing an additional 182,462 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Knife River by 71.0% during the second quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock worth $28,971,000 after purchasing an additional 147,387 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Knife River by 27.2% during the second 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 in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KNF. Wells Fargo & Company lowered Knife River from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $75.00 to $81.00 in a research note on Wednesday, February 18th. B. Riley Financial assumed coverage on Knife River in a research note on Thursday, January 15th. They issued a “buy” rating and a $92.00 price target on the stock. DA Davidson upped their price target on Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Finally, Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Knife River has an average rating of “Moderate Buy” and an average target price of $97.43.

Knife River Price Performance

Shares of KNF traded up $0.23 on Friday, hitting $78.48. The company’s stock had a trading volume of 83,274 shares, compared to its average volume of 567,021. The company has a market capitalization of $4.45 billion, a PE ratio of 28.29, a PEG ratio of 1.80 and a beta of 0.27. Knife River Corporation has a fifty-two week low of $58.72 and a fifty-two week high of $103.18. The company has a 50 day moving average price of $80.10 and a 200 day moving average price of $75.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39.

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