Castleark Management LLC Trims Stock Position in Knife River Co. (NYSE:KNF)

Castleark Management LLC lowered its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,190 shares of the company's stock after selling 3,500 shares during the period. Castleark Management LLC owned approximately 0.15% of Knife River worth $8,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KNF. Capital Research Global Investors boosted its stake in Knife River by 45.2% during the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock worth $196,829,000 after buying an additional 603,170 shares during the period. Alliancebernstein L.P. increased its holdings in Knife River by 830.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock valued at $111,965,000 after purchasing an additional 983,223 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in Knife River by 1.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock valued at $105,121,000 after purchasing an additional 17,234 shares during the period. Driehaus Capital Management LLC lifted its stake in Knife River by 3.7% during the fourth quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock worth $99,934,000 after purchasing an additional 34,747 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its position in shares of Knife River by 4.3% during the fourth quarter. Hood River Capital Management LLC now owns 906,534 shares of the company's stock worth $92,140,000 after buying an additional 37,431 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens reissued an "overweight" rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company increased 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $112.80.

Knife River Stock Down 0.6%

NYSE KNF traded down $0.57 during trading hours on Monday, hitting $96.11. 210,812 shares of the company were exchanged, compared to its average volume of 429,569. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.36 and a beta of 0.96. The company has a 50 day moving average of $93.23 and a two-hundred day moving average of $97.50. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $353.50 million during the quarter, compared to analysts' expectations of $343.98 million. During the same quarter in the prior year, the firm earned ($0.84) EPS. The firm's revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current 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.