Knife River Corporation $KNF Shares Bought by M&T Bank Corp

Key Points

• M&T Bank Corp increased its stake in Knife River (NYSE:KNF) by 325.5% in Q4 to 297,798 shares—about 0.53% of the company—valued at roughly $20.95 million.
• Knife River beat expectations in its most recent quarter with $0.56 EPS versus $0.41 expected and revenue of $755.06 million, up 14.9% year‑over‑year.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $97.29, while the stock trades around $88.30 with a market cap near $5.01 billion and a P/E of 31.99.

M&T Bank Corp raised its position in Knife River Corporation (NYSE:KNF - Free Report) by 325.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 297,798 shares of the company's stock after buying an additional 227,804 shares during the period. M&T Bank Corp owned about 0.53% of Knife River worth $20,950,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cornerstone Investment Partners LLC boosted its holdings in Knife River by 5.8% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company's stock worth $226,000 after buying an additional 161 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Knife River by 34.8% in the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company's stock worth $48,000 after buying an additional 177 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Knife River by 141.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company's stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Allied Investment Advisors LLC boosted its stake in Knife River by 4.6% during the 3rd quarter. Allied Investment Advisors LLC now owns 4,722 shares of the company's stock worth $363,000 after purchasing an additional 206 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Knife River by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company's stock worth $285,000 after purchasing an additional 220 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Trading Down 0.6%

KNF opened at $88.30 on Friday. Knife River Corporation has a one year low of $58.72 and a one year high of $103.18. The stock has a market capitalization of $5.01 billion, a PE ratio of 31.99, a P/E/G ratio of 2.00 and a beta of 0.41. The business's 50 day moving average price is $84.21 and its 200 day moving average price is $76.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 2.54.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The firm had revenue of $755.06 million for the quarter, compared to analysts' expectations of $726.60 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The firm's quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts expect that Knife River Corporation will post 3.21 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on KNF. DA Davidson lifted their target price on shares of Knife River from $95.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Zacks Research raised shares of Knife River from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. Wells Fargo & Company lowered their target price on shares of Knife River from $81.00 to $80.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 15th. Royal Bank Of Canada boosted their target price on Knife River from $106.00 to $109.00 and gave the stock an "outperform" rating in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded Knife River from a "sell" rating to a "hold" rating in a report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.29.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

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