Knife River Corporation $KNF Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in Knife River Corporation (NYSE: KNF) by 43.7%, now holding 24,068 shares valued at $2.17 million.
• Knife River's latest earnings report revealed a net margin of 5.20% and a reported EPS of $0.89, missing analysts' estimates of $1.27.
• Analysts are generally optimistic about Knife River, with a consensus rating of "Buy" and a target price of $114.33, despite some recent adjustments to price objectives.

Comerica Bank cut its stake in Knife River Corporation (NYSE:KNF - Free Report) by 43.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,068 shares of the company's stock after selling 18,684 shares during the period. Comerica Bank's holdings in Knife River were worth $2,171,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Knife River in the first quarter valued at about $26,000. State of Wyoming purchased a new position in Knife River in the fourth quarter valued at about $30,000. Brooklyn Investment Group increased its holdings in Knife River by 31,200.0% in the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after buying an additional 312 shares in the last quarter. Versant Capital Management Inc increased its holdings in Knife River by 501.9% in the first quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after buying an additional 271 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Knife River in the first quarter valued at approximately $35,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson lowered 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. Wells Fargo & Company increased their price target on shares of Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada assumed 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. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Knife River currently has a consensus rating of "Buy" and an average price target of $114.33.

Knife River Price Performance

Shares of KNF stock traded up $1.70 during trading hours on Friday, hitting $80.29. The company's stock had a trading volume of 794,565 shares, compared to its average volume of 622,997. Knife River Corporation has a twelve month low of $73.91 and a twelve month high of $108.83. The business has a fifty day moving average of $83.49 and a 200-day moving average of $88.65. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 5.86 and a beta of 0.62. 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 announced its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%.The firm had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. During the same quarter last year, the business posted $1.37 EPS. The firm's revenue was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Knife River Corporation will post 4.11 EPS for the current 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.