Millennium Management LLC Reduces Stock Position in Knife River Co. (NYSE:KNF)

Millennium Management LLC lowered its position in Knife River Co. (NYSE:KNF - Free Report) by 98.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,406 shares of the company's stock after selling 192,542 shares during the quarter. Millennium Management LLC's holdings in Knife River were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KNF. Van ECK Associates Corp purchased a new position in Knife River in the fourth quarter worth approximately $4,201,000. Asset Management One Co. Ltd. acquired a new position in shares of Knife River in the 4th quarter valued at $2,703,000. Congress Asset Management Co. grew its holdings in shares of Knife River by 2.5% during the 4th quarter. Congress Asset Management Co. now owns 696,245 shares of the company's stock worth $70,766,000 after purchasing an additional 16,698 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Knife River by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 154,632 shares of the company's stock worth $15,717,000 after purchasing an additional 2,303 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Knife River by 24.9% during the 4th quarter. Sanctuary Advisors LLC now owns 5,093 shares of the company's stock worth $540,000 after purchasing an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Trading Up 0.8%

Knife River stock traded up $0.71 during midday trading on Thursday, reaching $85.11. 698,162 shares of the stock traded hands, compared to its average volume of 435,103. The firm has a market cap of $4.82 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $93.36 and a two-hundred day simple moving average of $97.08. Knife River Co. has a 12-month low of $66.51 and a 12-month high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). Knife River had a net margin of 6.96% and a return on equity of 14.82%. The company had revenue of $353.50 million during the quarter, compared to analysts' expectations of $343.98 million. During the same quarter last year, the business posted ($0.84) earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts expect that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DA Davidson decreased their target price on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company boosted their price target on shares of Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, Stephens restated an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Knife River has an average rating of "Buy" and a consensus price target of $114.80.

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.