McElhenny Sheffield Capital Management LLC Takes $1.80 Million Position in Knife River Corporation $KNF

Key Points

• McElhenny Sheffield Capital Management LLC has purchased a new position in Knife River Corporation, acquiring 22,000 shares valued at approximately $1.80 million during the second quarter.
• A majority of Knife River's stock, about 80.11%, is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Knife River reported a net income miss for the last quarter, with earnings per share of $0.89, falling short of the consensus estimate of $1.27, despite a year-over-year revenue increase of 3.3%.

McElhenny Sheffield Capital Management LLC bought a new stake in Knife River Corporation (NYSE:KNF - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,000 shares of the company's stock, valued at approximately $1,796,000.

A number of other institutional investors have also modified their holdings of KNF. UMB Bank n.a. increased its holdings in shares of Knife River by 239.5% in the 1st quarter. UMB Bank n.a. now owns 567 shares of the company's stock valued at $51,000 after acquiring an additional 400 shares during the period. Portside Wealth Group LLC increased its stake in Knife River by 16.0% in the 1st quarter. Portside Wealth Group LLC now owns 3,815 shares of the company's stock valued at $344,000 after buying an additional 526 shares during the period. GAMMA Investing LLC increased its stake in Knife River by 99.3% in the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock valued at $97,000 after buying an additional 535 shares during the period. SG Americas Securities LLC acquired a new position in Knife River in the 1st quarter valued at $718,000. Finally, Handelsbanken Fonder AB increased its stake in Knife River by 32.3% in the 1st quarter. Handelsbanken Fonder AB now owns 16,800 shares of the company's stock valued at $1,516,000 after buying an additional 4,100 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KNF. Weiss Ratings reissued a "hold (c)" rating on shares of Knife River in a research note on Wednesday. DA Davidson dropped their price objective on shares of Knife River from $105.00 to $95.00 and set a "buy" rating on the stock in a research note on Wednesday, October 1st. Wells Fargo & Company began coverage on shares of Knife River in a research note on Tuesday. They issued a "cautious" rating on the stock. Oppenheimer dropped their price objective on shares of Knife River from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada started coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $106.83.

Knife River Price Performance

Knife River stock opened at $68.44 on Thursday. Knife River Corporation has a 52 week low of $66.75 and a 52 week high of $108.83. 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 firm's 50-day simple moving average is $80.91 and its 200 day simple moving average is $85.98. The firm has a market capitalization of $3.88 billion, a PE ratio of 25.44, a P/E/G ratio of 5.85 and a beta of 0.57.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 EPS 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 business had revenue of $833.80 million during the quarter, compared to analysts' expectations of $902.26 million. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Knife River's quarterly revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

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.

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