Knife River Co. (NYSE:KNF) Shares Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC increased its stake in Knife River Co. (NYSE:KNF - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 983,212 shares of the company's stock after buying an additional 34,747 shares during the period. Knife River accounts for 0.8% of Driehaus Capital Management LLC's portfolio, making the stock its 21st largest position. Driehaus Capital Management LLC owned approximately 1.74% of Knife River worth $99,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. grew its holdings in shares of Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock valued at $111,965,000 after buying an additional 983,223 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Knife River by 1,200.8% during the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company's stock valued at $90,224,000 after buying an additional 819,439 shares during the last quarter. Norges Bank bought a new position in Knife River during the fourth quarter valued at approximately $66,631,000. Capital Research Global Investors lifted its position in Knife River by 45.2% during the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after purchasing an additional 603,170 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new position in Knife River during the fourth quarter valued at approximately $46,750,000. 80.11% of the stock is owned by institutional investors.

Knife River Trading Up 2.2%

KNF stock traded up $2.20 during mid-day trading on Tuesday, hitting $101.76. 175,532 shares of the company were exchanged, compared to its average volume of 429,305. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83. The business has a fifty day simple moving average of $91.56 and a 200-day simple moving average of $97.33. The firm has a market capitalization of $5.76 billion, a P/E ratio of 28.75, a PEG ratio of 2.36 and a beta of 0.96. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). The firm had revenue of $353.50 million during the quarter, compared to analysts' expectations of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.84) EPS. On average, equities research analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Knife River in a research note on Monday, March 10th. They set an "overweight" rating and a $102.00 price target on the stock. Stephens reissued an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $110.40.

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.