Arkadios Wealth Advisors Buys New Holdings in Knife River Corporation (NYSE:KNF)

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 Knife River Corporation (NYSE:KNF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,151 shares of the company's stock, valued at approximately $465,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. LPL Financial LLC grew its holdings in Knife River by 3.0% during the 1st quarter. LPL Financial LLC now owns 106,316 shares of the company's stock valued at $9,591,000 after buying an additional 3,130 shares in the last quarter. TD Asset Management Inc boosted its stake in Knife River by 400.5% during the first quarter. TD Asset Management Inc now owns 22,022 shares of the company's stock worth $1,987,000 after buying an additional 17,622 shares during the period. Cetera Investment Advisers lifted its position in shares of Knife River by 4.0% during the first quarter. Cetera Investment Advisers now owns 10,178 shares of the company's stock worth $918,000 after purchasing an additional 396 shares during the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Knife River during the first quarter worth $742,000. Finally, Legato Capital Management LLC bought a new stake in shares of Knife River during the first quarter worth $318,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Royal Bank Of Canada assumed coverage on Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price for the company. DA Davidson decreased their target price 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. Finally, Wells Fargo & Company decreased their price objective on Knife River from $114.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $114.17.

Knife River Stock Down 0.1%

Shares of KNF stock traded down $0.05 on Friday, hitting $87.87. The stock had a trading volume of 244,132 shares, compared to its average volume of 556,223. The business has a 50 day moving average price of $83.28 and a 200 day moving average price of $91.16. Knife River Corporation has a one year low of $71.92 and a one year high of $108.83. The company has a quick ratio of 1.49, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The company has a market cap of $4.98 billion, a PE ratio of 32.66, a P/E/G ratio of 2.37 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a net margin of 5.20% and a return on equity of 10.58%. The company had revenue of $833.80 million during the quarter, compared to analysts' expectations of $902.26 million. During the same quarter last year, the firm earned $1.37 EPS. Knife River's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

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.