F m Investments LLC Raises Stake in Knife River Corporation $KNF

Key Points

• F m Investments LLC increased its Knife River stake by 19.2% in the fourth quarter, adding 11,839 shares and bringing its total holding to 73,611 shares worth about $5.18 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding about 80.11% of Knife River’s stock. Several firms also boosted their positions, including Allspring Global Investments and Register Financial Advisors.
• Knife River reported stronger-than-expected quarterly results, posting EPS of -$1.40 versus estimates of -$1.42 and revenue of $410.13 million, up 16% year over year. Analysts currently rate the stock a “Moderate Buy” with an average price target of $98.00.

F m Investments LLC lifted its position in shares of Knife River Corporation (NYSE:KNF - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,611 shares of the company's stock after buying an additional 11,839 shares during the quarter. F m Investments LLC owned approximately 0.13% of Knife River worth $5,179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Register Financial Advisors LLC grew its holdings in shares of Knife River by 117.8% during the third quarter. Register Financial Advisors LLC now owns 36,115 shares of the company's stock worth $2,776,000 after buying an additional 19,536 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in shares of Knife River by 103.2% during the third quarter. Clear Creek Financial Management LLC now owns 15,486 shares of the company's stock worth $1,190,000 after buying an additional 7,866 shares in the last quarter. Voss Capital LP purchased a new stake in shares of Knife River during the third quarter worth about $33,823,000. Thrivent Financial for Lutherans grew its holdings in shares of Knife River by 21.3% during the third quarter. Thrivent Financial for Lutherans now owns 81,315 shares of the company's stock worth $6,250,000 after buying an additional 14,253 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Knife River by 111.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 63,904 shares of the company's stock worth $4,648,000 after buying an additional 33,698 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNF has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Knife River from $90.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday. Wall Street Zen upgraded shares of Knife River from a "sell" rating to a "hold" rating in a report on Monday, February 23rd. Weiss Ratings downgraded shares of Knife River from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday. B. Riley Financial began coverage on shares of Knife River in a report on Thursday, January 15th. They issued a "buy" rating and a $92.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on shares of Knife River from $81.00 to $80.00 and set an "underweight" rating for the company in a report on Wednesday, April 15th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Knife River presently has an average rating of "Moderate Buy" and an average price target of $98.00.

Knife River Trading Up 2.0%

KNF opened at $90.48 on Friday. The stock has a market capitalization of $5.13 billion, a PE ratio of 35.21, a P/E/G ratio of 1.59 and a beta of 0.55. The firm's fifty day moving average price is $84.51 and its 200 day moving average price is $77.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.39. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $103.18.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.02. The firm had revenue of $410.13 million for the quarter, compared to analysts' expectations of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The firm's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.21) earnings per share. As a group, research analysts expect that Knife River Corporation will post 3.31 EPS for the current fiscal year.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

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