Hotchkis & Wiley Capital Management LLC Sells 52,560 Shares of Knife River Corporation $KNF

Key Points

• Hotchkis & Wiley Capital Management LLC sold 52,560 shares of Knife River Corporation, reducing its ownership by 44.7% and leaving them with 64,990 shares valued at approximately $5.86 million.
• Analysts have mixed forecasts for Knife River, with Wells Fargo raising its price target to $97.00 and rating the stock as "overweight," while DA Davidson lowered its target to $120.00 but maintains a "buy" rating.
• Knife River's latest earnings report showed EPS of $0.89, falling short of the expected $1.27, with revenue at $833.80 million compared to an expectation of $902.26 million.

Hotchkis & Wiley Capital Management LLC cut its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,990 shares of the company's stock after selling 52,560 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.11% of Knife River worth $5,863,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Knife River by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock worth $14,012,000 after buying an additional 697 shares during the period. Golden State Wealth Management LLC boosted its position in Knife River by 14.8% during the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock worth $389,000 after buying an additional 555 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in Knife River during the 1st quarter worth approximately $206,000. Wealth Enhancement Advisory Services LLC boosted its position in Knife River by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock worth $729,000 after buying an additional 485 shares during the period. Finally, GAMMA Investing LLC boosted its position in Knife River by 99.3% during the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock worth $97,000 after buying an additional 535 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Up 0.2%

Shares of Knife River stock traded up $0.19 during trading on Friday, reaching $81.08. 795,625 shares of the company traded hands, compared to its average volume of 755,209. The firm has a market capitalization of $4.59 billion, a PE ratio of 30.14, a P/E/G ratio of 5.90 and a beta of 0.63. The company has a 50 day moving average price of $83.78 and a 200-day moving average price of $89.37. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. Knife River Corporation has a 1-year low of $73.91 and a 1-year high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last announced 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). The business had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. Knife River has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KNF shares. DA Davidson dropped their price target on shares of 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 started coverage on shares of Knife River in a research report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Finally, Wells Fargo & Company boosted 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 research analysts have rated the stock with a Buy rating, According to MarketBeat, Knife River presently has a consensus rating of "Buy" and a consensus price target of $114.33.

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.