Adage Capital Partners GP L.L.C. Makes New Investment in Knife River Corporation $KNF

Adage Capital Partners GP L.L.C. acquired a new stake in Knife River Corporation (NYSE:KNF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 60,000 shares of the company's stock, valued at approximately $5,413,000. Adage Capital Partners GP L.L.C. owned 0.11% of Knife River at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of Knife River in the 1st quarter valued at about $26,000. State of Wyoming purchased a new position in Knife River in the fourth quarter valued at $30,000. Brooklyn Investment Group lifted its position in shares of Knife River by 31,200.0% during the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company's stock worth $28,000 after buying an additional 312 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after purchasing an additional 271 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Knife River in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 80.11% of the company's stock.

Analyst Ratings Changes

KNF has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Royal Bank Of Canada started coverage on Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 target price for the company. Finally, DA Davidson dropped their price target on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Knife River presently has a consensus rating of "Buy" and an average target price of $114.33.

Knife River Price Performance

Shares of KNF traded down $2.04 during mid-day trading on Friday, hitting $78.65. 114,282 shares of the company traded hands, compared to its average volume of 567,395. Knife River Corporation has a one year low of $74.50 and a one year high of $108.83. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 5.73 and a beta of 0.62. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average of $83.34 and a 200 day moving average of $88.25.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%.The company had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. During the same quarter in the previous year, the business earned $1.37 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Knife River 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.