AQR Capital Management LLC Raises Stock Holdings in Knife River Corporation $KNF

Key Points

• AQR Capital Management LLC increased its stake in Knife River Corporation by 21.8%, owning a total of 119,076 shares valued at approximately $10.3 million.
• Knife River received upgrades from multiple analysts, including a price target increase to $97 from Wells Fargo & Company and an "outperform" rating set by Royal Bank Of Canada at $129.
• The company reported earnings per share (EPS) of $0.89 for the latest quarter, which was below the analysts' expectations of $1.27.

AQR Capital Management LLC raised its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 21.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,076 shares of the company's stock after buying an additional 21,329 shares during the quarter. AQR Capital Management LLC owned approximately 0.21% of Knife River worth $10,318,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in Knife River in the fourth quarter valued at approximately $2,121,000. Cetera Investment Advisers grew its stake in shares of Knife River by 14.4% during the 4th quarter. Cetera Investment Advisers now owns 9,782 shares of the company's stock valued at $994,000 after buying an additional 1,234 shares during the period. Deutsche Bank AG increased its holdings in shares of Knife River by 10.2% during the 4th quarter. Deutsche Bank AG now owns 180,087 shares of the company's stock worth $18,304,000 after buying an additional 16,625 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Knife River during the 4th quarter worth $1,951,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Knife River by 5.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 421,055 shares of the company's stock worth $42,796,000 after buying an additional 22,014 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Down 2.4%

NYSE KNF traded down $1.88 on Tuesday, reaching $75.36. The company had a trading volume of 611,889 shares, compared to its average volume of 594,959. 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 $74.50 and a 1 year high of $108.83. The firm has a 50-day moving average of $83.18 and a 200-day moving average of $87.84. The firm has a market capitalization of $4.27 billion, a PE ratio of 28.01, a P/E/G ratio of 5.63 and a beta of 0.62.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. DA Davidson lowered their price target on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Wells Fargo & Company lifted their price objective 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 started coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $114.33.

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.