Russell Investments Group Ltd. Sells 32,004 Shares of Knife River Corporation $KNF

Russell Investments Group Ltd. trimmed its stake in shares of Knife River Corporation (NYSE:KNF) by 36.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,427 shares of the company’s stock after selling 32,004 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Knife River worth $4,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Teacher Retirement System of Texas raised its holdings in Knife River by 127.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 128,785 shares of the company’s stock valued at $10,514,000 after acquiring an additional 72,108 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Knife River by 32.1% during the first quarter. Ameriprise Financial Inc. now owns 605,274 shares of the company’s stock worth $54,604,000 after acquiring an additional 146,987 shares during the period. Franklin Resources Inc. grew its position in shares of Knife River by 27.2% in 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 during the last quarter. DMKC Advisory Services LLC bought a new position in shares of Knife River during the second quarter worth approximately $358,000. Finally, Rhumbline Advisers lifted its holdings in Knife River by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock worth $14,825,000 after purchasing an additional 4,889 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Trading Up 0.9%

KNF opened at $74.72 on Friday. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 1.52 and a beta of 0.43. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $108.83. The company has a 50-day simple moving average of $69.11 and a 200 day simple moving average of $78.67.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.45 by $0.07. Knife River had a net margin of 4.87% and a return on equity of 9.97%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on KNF shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Knife River from a “hold” rating to a “sell” rating in a research note on Tuesday, December 2nd. UBS Group upgraded shares of Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada cut their price objective on shares of Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, Wells Fargo & Company raised shares of Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 target price on the stock in a report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.