Massachusetts Financial Services Co. MA Buys 153,808 Shares of Knife River Corporation (NYSE:KNF)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 56.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 426,781 shares of the company's stock after buying an additional 153,808 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.75% of Knife River worth $38,500,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Capital Research Global Investors lifted its position in shares of Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after acquiring an additional 603,170 shares during the period. Alliancebernstein L.P. grew its stake in shares of Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock valued at $111,965,000 after buying an additional 983,223 shares during the period. Silvercrest Asset Management Group LLC boosted its position in Knife River by 1.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock worth $105,121,000 after purchasing an additional 17,234 shares during the period. Driehaus Capital Management LLC lifted its holdings in Knife River by 3.7% in the 4th quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock worth $99,934,000 after buying an additional 34,747 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its stake in Knife River by 4.3% during the 4th quarter. Hood River Capital Management LLC now owns 906,534 shares of the company's stock valued at $92,140,000 after acquiring an additional 37,431 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

Shares of Knife River stock traded up $0.42 during trading on Monday, hitting $80.99. 543,681 shares of the company's stock traded hands, compared to its average volume of 467,875. The company has a market cap of $4.59 billion, a PE ratio of 25.42, a PEG ratio of 2.19 and a beta of 0.63. Knife River Corporation has a twelve month low of $67.22 and a twelve month high of $108.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49. The firm's fifty day moving average price is $87.51 and its 200 day moving average price is $92.69.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The firm had revenue of $353.50 million during the quarter, compared to the consensus estimate of $343.98 million. Knife River had a net margin of 6.18% and a return on equity of 12.83%. Knife River's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.84) EPS. Analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KNF shares. Wells Fargo & Company increased their price objective on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada initiated coverage on Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 price objective for the company. Finally, DA Davidson cut their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Knife River currently has an average rating of "Buy" and an average target price of $117.17.

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.