Lisanti Capital Growth LLC Purchases Shares of 15,825 Knife River Corporation (NYSE:KNF)

Lisanti Capital Growth LLC acquired a new stake in Knife River Corporation (NYSE:KNF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,825 shares of the company's stock, valued at approximately $1,428,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in shares of Knife River by 14.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock valued at $389,000 after buying an additional 555 shares during the period. Bessemer Group Inc. increased its holdings in shares of Knife River by 173.9% in the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company's stock valued at $49,000 after purchasing an additional 346 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Knife River by 109.2% in the first quarter. Asset Management One Co. Ltd. now owns 54,921 shares of the company's stock valued at $4,954,000 after purchasing an additional 28,669 shares during the period. Ausbil Investment Management Ltd boosted its holdings in Knife River by 156.8% during the first quarter. Ausbil Investment Management Ltd now owns 3,510 shares of the company's stock worth $317,000 after buying an additional 2,143 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Knife River by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 6,631 shares of the company's stock worth $598,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

Shares of KNF stock traded down $1.13 during trading hours on Wednesday, hitting $81.12. The company's stock had a trading volume of 896,430 shares, compared to its average volume of 454,943. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average of $91.08 and a 200-day moving average of $94.87. Knife River Corporation has a twelve month low of $67.22 and a twelve month high of $108.83. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.22 and a beta of 0.64.

Knife River (NYSE:KNF - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). The company had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. Knife River had a net margin of 6.18% and a return on equity of 12.83%. Knife River's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.84) EPS. As a group, equities research analysts anticipate that Knife River Corporation will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KNF. Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target for the company. Wells Fargo & Company raised their price objective on Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, DA Davidson reduced 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $117.17.

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.