5,151 Shares in Knife River Corporation (NYSE:KNF) Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors purchased 5,151 shares of Knife River Corporation, investing approximately $465,000 in the company during the first quarter.
• Knife River's recent quarterly earnings showed a miss in earnings per share at $0.89, below the expected $1.27 and a revenue of $833.8 million, which was also less than anticipated.
• The stock is currently rated as a "Buy" by six investment analysts, with a consensus price target of $114.17.

Arkadios Wealth Advisors bought a new position in shares of Knife River Corporation (NYSE:KNF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,151 shares of the company's stock, valued at approximately $465,000.

Other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Knife River during the first quarter worth about $26,000. State of Wyoming bought a new stake in shares of Knife River during the 4th quarter worth approximately $30,000. Versant Capital Management Inc boosted its position in shares of Knife River by 501.9% during the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after acquiring an additional 271 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Knife River in the first quarter valued at approximately $35,000. Finally, Bessemer Group Inc. increased its stake in Knife River by 173.9% in the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock valued at $49,000 after acquiring an additional 346 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KNF has been the subject of several recent analyst reports. Royal Bank Of Canada assumed coverage on Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 target price for the company. Wells Fargo & Company dropped their price objective on Knife River from $114.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Finally, 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 report on Tuesday, June 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $114.17.

Knife River Trading Up 0.5%

NYSE:KNF traded up $0.47 on Thursday, reaching $87.67. 917,084 shares of the stock traded hands, compared to its average volume of 558,527. Knife River Corporation has a 1-year low of $70.83 and a 1-year high of $108.83. The company has a current ratio of 2.78, a quick ratio of 1.49 and a debt-to-equity ratio of 0.92. The company's 50 day moving average is $83.41 and its 200-day moving average is $91.28. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly 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). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The firm had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. During the same period last year, the company posted $1.37 EPS. The business's revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Knife River Corporation will post 4.11 EPS 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.