Knife River Corporation $KNF Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC. reduced its stake in Knife River Corporation shares by 5.3%, now owning approximately 0.10% of the company, valued at $5,119,000.
• Knife River Corporation reported $0.89 earnings per share for the last quarter, missing analysts' expectations of $1.27, while its revenue was up 3.3% year-over-year.
• Knife River currently has a consensus rating of "Buy" from analysts, with a target price of $114.33 per share.

First Manhattan CO. LLC. reduced its position in Knife River Corporation (NYSE:KNF - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,749 shares of the company's stock after selling 3,187 shares during the period. First Manhattan CO. LLC. owned about 0.10% of Knife River worth $5,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Knife River Trading Up 2.2%

Shares of KNF traded up $1.70 during mid-day trading on Friday, reaching $80.29. The stock had a trading volume of 794,565 shares, compared to its average volume of 637,378. 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 52-week low of $73.91 and a 52-week high of $108.83. The business's fifty day moving average is $83.49 and its 200 day moving average is $88.56. The firm 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 0.63.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.20% and a return on equity of 10.58%. The firm had revenue of $833.80 million during the quarter, compared to analysts' expectations of $902.26 million. During the same period in the prior year, the company posted $1.37 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DA Davidson cut their price target on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Royal Bank Of Canada initiated coverage on shares of Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price for the company. Finally, Wells Fargo & Company upped their target price on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a 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 price target 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.