Handelsbanken Fonder AB Grows Stake in Knife River Co. (NYSE:KNF)

Handelsbanken Fonder AB grew its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 32.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,800 shares of the company's stock after purchasing an additional 4,100 shares during the period. Handelsbanken Fonder AB's holdings in Knife River were worth $1,516,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. State of Wyoming purchased a new position in shares of Knife River during the fourth quarter valued at about $30,000. Versant Capital Management Inc grew its holdings in Knife River by 501.9% in the first quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after purchasing an additional 271 shares during the period. Larson Financial Group LLC grew its holdings in shares of Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after buying an additional 157 shares during the last quarter. UMB Bank n.a. increased its position in shares of Knife River by 239.5% during the first quarter. UMB Bank n.a. now owns 567 shares of the company's stock valued at $51,000 after acquiring an additional 400 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Knife River by 74.9% during the first quarter. Parallel Advisors LLC now owns 628 shares of the company's stock valued at $57,000 after acquiring an additional 269 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNF has been the subject of a number of research analyst reports. DA Davidson cut their target price on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Wells Fargo & Company upped their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $114.80.

Knife River Price Performance

NYSE KNF opened at $80.61 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The firm's 50 day moving average price is $93.34 and its 200-day moving average price is $96.78. Knife River Co. has a 52-week low of $66.51 and a 52-week high of $108.83. The company has a market cap of $4.57 billion, a PE ratio of 22.77, a P/E/G ratio of 2.36 and a beta of 0.84.

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

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