Rock Creek Group LLC Buys 10,000 Shares of Knife River Corporation $KNF

Rock Creek Group LLC bought a new position in Knife River Corporation (NYSE:KNF) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $504,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Knife River by 83.9% in the third quarter. Fifth Third Bancorp now owns 40,384 shares of the company’s stock valued at $2,036,000 after acquiring an additional 18,427 shares in the last quarter. Parallel Advisors LLC lifted its stake in Knife River by 49.2% in the third quarter. Parallel Advisors LLC now owns 591 shares of the company’s stock worth $30,000 after acquiring an additional 195 shares during the period. William Mack & Associates Inc. purchased a new stake in Knife River in the third quarter worth about $34,000. Asset Management One Co. Ltd. grew its holdings in Knife River by 40.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 3,986 shares of the company’s stock worth $201,000 after acquiring an additional 1,151 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Knife River by 267.1% during the 3rd quarter. Signaturefd LLC now owns 826 shares of the company’s stock worth $42,000 after acquiring an additional 601 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Down 0.8%

NYSE:KNF traded down $0.43 during midday trading on Friday, reaching $56.25. 433,464 shares of the stock traded hands, compared to its average volume of 762,971. The stock has a market capitalization of $3.19 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.40. Knife River Corporation has a 12-month low of $47.79 and a 12-month high of $96.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.81 and a current ratio of 2.73. The business has a 50-day moving average of $54.52 and a two-hundred day moving average of $73.13.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.15). Knife River had a return on equity of 8.22% and a net margin of 3.98%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm posted $2.52 earnings per share. Knife River’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Knife River Corporation will post 2.40 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Knife River from $62.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. JPMorgan Chase & Co. lowered their price target on shares of Knife River from $73.00 to $63.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Royal Bank Of Canada increased their price objective on shares of Knife River from $58.00 to $59.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. DA Davidson set a $66.00 price objective on shares of Knife River in a report on Friday, November 6th. Finally, B. Riley Financial lowered their target price on Knife River from $105.00 to $65.00 and set a “buy” rating for the company in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.29.

Knife River Company Profile

Knife River Corporation is an aggregates-based construction materials and contracting company headquartered in Bismarck, North Dakota. It produces and sells construction materials, including crushed stone, sand and gravel, ready-mix concrete, asphalt and cement. The company also provides construction services such as asphalt paving, road building, site development and underground utility work. Its operations serve customers across parts of the western, northwestern and central United States, including public agencies and commercial customers.