Gabelli Funds LLC Acquires 9,990 Shares of Knife River Corporation $KNF

Gabelli Funds LLC raised its holdings in shares of Knife River Corporation (NYSE:KNF) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,530 shares of the company’s stock after purchasing an additional 9,990 shares during the quarter. Gabelli Funds LLC’s holdings in Knife River were worth $10,086,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. McMillan Office Inc. purchased a new stake in shares of Knife River in the 4th quarter worth $36,000. Hantz Financial Services Inc. boosted its stake in Knife River by 66.3% in the fourth quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock valued at $40,000 after acquiring an additional 226 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Knife River by 1,088.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after purchasing an additional 544 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Knife River by 34.8% in the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after acquiring an additional 177 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Knife River by 198.5% in the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock worth $57,000 after purchasing an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of NYSE:KNF opened at $77.96 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. Knife River Corporation has a 1 year low of $58.72 and a 1 year high of $96.28. The firm has a market capitalization of $4.42 billion, a PE ratio of 30.34, a P/E/G ratio of 1.40 and a beta of 0.37. The business’s 50 day moving average price is $80.06 and its 200-day moving average price is $81.44.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The firm had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. During the same period in the prior year, the company earned ($1.21) EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts expect that Knife River Corporation will post 3.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Oppenheimer started coverage on shares of Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. boosted 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. Weiss Ratings upgraded shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada cut their target price 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, June 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.14.

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.