Millennium Management LLC Sells 192,542 Shares of Knife River Co. (NYSE:KNF)

Millennium Management LLC reduced its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 98.8% in the fourth quarter, according to the company in its most recent filing with the Securities & 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 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in shares of Knife River in the 4th quarter valued at about $4,201,000. Asset Management One Co. Ltd. purchased a new position in shares of Knife River during the 4th quarter worth $2,703,000. Congress Asset Management Co. increased its stake in Knife River by 2.5% during the fourth 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 position in shares of Knife River by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 154,632 shares of the company's stock worth $15,717,000 after buying an additional 2,303 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Knife River by 24.9% in the fourth quarter. Sanctuary Advisors LLC now owns 5,093 shares of the company's stock valued at $540,000 after purchasing an additional 1,014 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KNF shares. Wells Fargo & Company lifted their price target on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. DA Davidson lowered their price objective on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $114.80.

Knife River Stock Performance

NYSE:KNF traded down $4.59 during mid-day trading on Friday, hitting $80.61. 1,066,089 shares of the stock were exchanged, compared to its average volume of 438,981. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The firm's 50-day simple moving average is $93.34 and its 200 day simple moving average is $96.74. Knife River Co. has a fifty-two week low of $66.51 and a fifty-two week high of $108.83.

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 the consensus estimate of ($0.89) by ($0.32). The business had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.84) EPS. As a group, equities analysts anticipate that Knife River Co. 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.