Headland Capital LLC Takes Position in Knife River Corporation (NYSE:KNF)

Key Points

• Headland Capital LLC recently acquired 56,605 shares of Knife River Corporation, valued at approximately $5.1 million, making it the firm’s 18th largest holding.
• Analysts have mixed ratings on Knife River, with Wells Fargo lowering the target price to $96, while Royal Bank of Canada maintains an "outperform" rating with a target of $129.
• In its latest earnings report, Knife River missed consensus EPS estimates and reported $353.5 million in revenue, indicating a 7.3% increase from the previous year.

Headland Capital LLC acquired a new position in shares of Knife River Corporation (NYSE:KNF - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 56,605 shares of the company's stock, valued at approximately $5,106,000. Knife River makes up about 1.7% of Headland Capital LLC's portfolio, making the stock its 18th largest position. Headland Capital LLC owned approximately 0.10% of Knife River as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on KNF. DA Davidson dropped their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 10th. Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on Knife River from $114.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $114.17.

Knife River Stock Performance

Shares of NYSE KNF traded up $0.94 during mid-day trading on Friday, hitting $83.42. The stock had a trading volume of 919,001 shares, compared to its average volume of 617,816. Knife River Corporation has a twelve month low of $67.22 and a twelve month high of $108.83. The firm has a market cap of $4.73 billion, a PE ratio of 26.32, a PEG ratio of 2.27 and a beta of 0.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 2.94. The company has a 50 day moving average of $84.06 and a two-hundred day moving average of $91.58.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The business had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. Knife River had a net margin of 6.18% and a return on equity of 12.83%. The business's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.84) earnings per share. Research analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal 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.