Townsquare Capital LLC Grows Position in Knife River Corporation (NYSE:KNF)

Key Points

• Townsquare Capital LLC has increased its holdings in Knife River Corporation by 12.7%, now owning 0.07% of the company valued at approximately $3.34 million.
• Knife River reported $0.89 earnings per share (EPS) for the last quarter, which was $0.38 below the consensus estimate of $1.27, despite a 3.3% year-over-year revenue increase.
• A majority of analysts maintain a buy rating for Knife River, with an average price target of $114.17, despite some institutions lowering their price targets recently.

Townsquare Capital LLC boosted its holdings in Knife River Corporation (NYSE:KNF - Free Report) by 12.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,062 shares of the company's stock after purchasing an additional 4,166 shares during the quarter. Townsquare Capital LLC owned about 0.07% of Knife River worth $3,343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in Knife River by 19.1% in the first quarter. Fifth Third Bancorp now owns 661 shares of the company's stock valued at $60,000 after purchasing an additional 106 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Knife River by 6.7% in the first quarter. Greenleaf Trust now owns 2,567 shares of the company's stock valued at $232,000 after acquiring an additional 162 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Knife River by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 6,631 shares of the company's stock valued at $598,000 after acquiring an additional 175 shares during the period. Bragg Financial Advisors Inc boosted its holdings in shares of Knife River by 0.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 45,365 shares of the company's stock valued at $4,611,000 after acquiring an additional 185 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Knife River by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company's stock valued at $1,434,000 after acquiring an additional 200 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Performance

Shares of NYSE KNF traded up $4.62 during mid-day trading on Tuesday, hitting $92.97. 665,145 shares of the company were exchanged, compared to its average volume of 767,599. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The stock has a 50 day simple moving average of $83.05 and a 200-day simple moving average of $90.73. Knife River Corporation has a 1-year low of $72.11 and a 1-year high of $108.83. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 6.44 and a beta of 0.63.

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). Knife River had a return on equity of 10.58% and a net margin of 5.20%. The company had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. During the same period in the prior year, the business earned $1.37 earnings per share. Knife River's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Monday. Royal Bank Of Canada assumed coverage on Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. Finally, DA Davidson decreased their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $114.33.

Knife River Company 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.