Knife River Corporation $KNF Shares Acquired by American Century Companies Inc.

Key Points

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American Century Companies Inc. increased its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 19.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,062,743 shares of the company's stock after purchasing an additional 175,063 shares during the quarter. American Century Companies Inc. owned 1.88% of Knife River worth $95,870,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of KNF. Opal Wealth Advisors LLC purchased a new position in Knife River during the first quarter worth about $26,000. Versant Capital Management Inc lifted its holdings in shares of Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after acquiring an additional 271 shares during the last quarter. State of Wyoming purchased a new position in shares of Knife River during the 4th quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Knife River in the 1st quarter valued at approximately $35,000. Finally, Bessemer Group Inc. raised its position in Knife River by 173.9% in the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock valued at $49,000 after purchasing an additional 346 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Down 1.0%

Shares of NYSE KNF opened at $90.06 on Monday. The stock has a market cap of $5.10 billion, a P/E ratio of 33.48, a PEG ratio of 6.56 and a beta of 0.63. The business's fifty day simple moving average is $83.02 and its 200-day simple moving average is $90.42. Knife River Corporation has a 12-month low of $73.91 and a 12-month high of $108.83. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). The company had revenue of $833.80 million for the quarter, compared to analysts' expectations 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. As a group, equities analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KNF shares. Wells Fargo & Company raised their price target on Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. DA Davidson lowered their target price on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada started coverage on shares of Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $114.33.

Knife River 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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