Hodges Capital Management Inc. Acquires Shares of 19,325 Knife River Corporation $KNF

Key Points

• Hodges Capital Management Inc. purchased a new stake in Knife River Corporation, acquiring 19,325 shares valued at approximately $1.74 million during the first quarter.
• Several institutional investors have increased their holdings in Knife River, with 80.11% of the stock currently owned by hedge funds and other investors.
• Despite recent analyst recommendations maintaining a Buy rating, Knife River's stock has declined 3.3% recently and reported an earnings miss with an EPS of $0.89 compared to expectations of $1.27.

Hodges Capital Management Inc. purchased a new stake in Knife River Corporation (NYSE:KNF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,325 shares of the company's stock, valued at approximately $1,743,000.

A number of other institutional investors have also modified their holdings of the company. Strs Ohio acquired a new position in shares of Knife River in the first quarter valued at approximately $5,034,000. Ellsworth Advisors LLC raised its position in shares of Knife River by 7.4% in the first quarter. Ellsworth Advisors LLC now owns 7,192 shares of the company's stock valued at $649,000 after buying an additional 495 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Knife River by 41.1% in the first quarter. Intech Investment Management LLC now owns 31,419 shares of the company's stock valued at $2,834,000 after buying an additional 9,152 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Knife River by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company's stock valued at $20,529,000 after buying an additional 32,762 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Knife River in the first quarter valued at approximately $424,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KNF. 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 for the company. DA Davidson dropped their price target 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. Finally, Wells Fargo & Company upped their price target on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Knife River currently has an average rating of "Buy" and a consensus target price of $114.33.

Knife River Trading Up 1.9%

Shares of Knife River stock traded up $1.44 during trading hours on Thursday, hitting $76.51. The company's stock had a trading volume of 191,123 shares, compared to its average volume of 568,204. Knife River Corporation has a 1-year low of $74.21 and a 1-year high of $108.83. The business has a fifty day moving average of $83.06 and a 200 day moving average of $87.75. The company has a market capitalization of $4.34 billion, a PE ratio of 28.44, a P/E/G ratio of 5.50 and a beta of 0.62. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). The business had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%.Knife River's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 EPS. Knife River has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Knife River Corporation will post 4.11 EPS for the current 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.