Aberdeen Group plc Increases Stock Holdings in Knife River Corporation $KNF

Aberdeen Group plc grew its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 40.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,182 shares of the company's stock after buying an additional 85,592 shares during the period. Aberdeen Group plc owned 0.52% of Knife River worth $26,809,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new position in shares of Knife River during the 1st quarter valued at about $681,000. Boston Partners lifted its position in shares of Knife River by 1.2% during the 1st quarter. Boston Partners now owns 238,385 shares of the company's stock valued at $21,435,000 after buying an additional 2,904 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Knife River by 16.7% during the 1st quarter. Russell Investments Group Ltd. now owns 87,431 shares of the company's stock valued at $7,887,000 after buying an additional 12,540 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its position in shares of Knife River by 263.5% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 19,419 shares of the company's stock valued at $1,752,000 after buying an additional 14,077 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Knife River by 8.3% during the 1st quarter. Independent Advisor Alliance now owns 2,816 shares of the company's stock valued at $254,000 after buying an additional 217 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Knife River Stock Performance

NYSE:KNF opened at $90.06 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. Knife River Corporation has a 1 year low of $73.91 and a 1 year high of $108.83. The stock's 50 day simple moving average is $83.02 and its two-hundred day simple moving average is $90.42. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 6.56 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share (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 firm had revenue of $833.80 million during the quarter, compared to the consensus estimate of $902.26 million. During the same period in the previous year, the firm earned $1.37 EPS. The business's revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

About Knife River

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.

Want to see what other hedge funds are holding KNF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knife River Corporation (NYSE:KNF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.