Dimensional Fund Advisors LP Sells 25,886 Shares of Knife River Corporation $KNF

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Knife River Corporation (NYSE:KNF) by 2.2%, holding 1,176,978 shares valued at approximately $106 million.
• Knife River reported a Q2 EPS of $0.89, falling short of estimates of $1.27, with revenue of $833.80 million against expectations of $902.26 million.
• Analysts' consensus rates Knife River as a "Buy", with a target price averaging $114.33 after multiple adjustments by firms like DA Davidson and Wells Fargo.

Dimensional Fund Advisors LP cut its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,176,978 shares of the company's stock after selling 25,886 shares during the period. Dimensional Fund Advisors LP owned approximately 2.08% of Knife River worth $106,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in Knife River by 40.6% in the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock valued at $111,583,000 after acquiring an additional 357,133 shares during the period. Silvercrest Asset Management Group LLC grew its stake 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 acquiring an additional 17,234 shares during the period. Driehaus Capital Management LLC grew its stake in Knife River by 3.7% in the fourth quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock valued at $99,934,000 after acquiring an additional 34,747 shares during the period. Northern Trust Corp grew its stake in Knife River by 13.7% in the fourth quarter. Northern Trust Corp now owns 750,517 shares of the company's stock valued at $76,283,000 after acquiring an additional 90,450 shares during the period. Finally, Congress Asset Management Co. grew its stake in Knife River by 5.4% in the first quarter. Congress Asset Management Co. now owns 733,832 shares of the company's stock valued at $66,199,000 after acquiring an additional 37,587 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KNF has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. DA Davidson cut their price target on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada started coverage on Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $114.33.

Knife River Stock Down 2.2%

Shares of Knife River stock traded down $1.86 during trading on Thursday, reaching $80.90. The stock had a trading volume of 1,129,714 shares, compared to its average volume of 743,718. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 6.03 and a beta of 0.63. The stock has a fifty day moving average price of $83.71 and a two-hundred day moving average price of $89.64. Knife River Corporation has a 52 week low of $73.91 and a 52 week high of $108.83. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92.

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 during the quarter, compared to the consensus estimate of $902.26 million. During the same quarter last year, the firm earned $1.37 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. Sell-side analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Knife River 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.