Bank of America Corp DE Has $12.58 Million Position in Knife River Co. (NYSE:KNF)

Bank of America Corp DE decreased its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 15.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 123,774 shares of the company's stock after selling 22,672 shares during the period. Bank of America Corp DE owned 0.22% of Knife River worth $12,580,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of KNF. Larson Financial Group LLC grew its position in shares of Knife River by 58.6% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after purchasing an additional 157 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Knife River in the 4th quarter valued at $79,000. Lee Danner & Bass Inc. bought a new position in Knife River during the 4th quarter worth $109,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Knife River during the fourth quarter worth $114,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Knife River by 40.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock valued at $169,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

KNF stock traded down $1.14 during midday trading on Wednesday, reaching $98.12. The company had a trading volume of 64,850 shares, compared to its average volume of 466,267. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The stock has a 50 day moving average price of $93.41 and a 200-day moving average price of $97.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). The firm had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted ($0.84) EPS. Equities research analysts expect that Knife River Co. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KNF has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Stephens reaffirmed an "overweight" rating and set a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $112.80.

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.