M&T Bank Corp Decreases Stake in Knife River Corporation (NYSE:KNF)

M&T Bank Corp lessened its holdings in shares of Knife River Corporation (NYSE:KNF - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,280 shares of the company's stock after selling 5,300 shares during the quarter. M&T Bank Corp owned approximately 0.12% of Knife River worth $6,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in KNF. Envestnet Asset Management Inc. raised its position in shares of Knife River by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 41,779 shares of the company's stock valued at $3,769,000 after buying an additional 3,543 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Knife River during the first quarter worth $83,000. Huntleigh Advisors Inc. lifted its stake in Knife River by 16.7% in the 1st quarter. Huntleigh Advisors Inc. now owns 5,766 shares of the company's stock valued at $520,000 after buying an additional 827 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Knife River in the 1st quarter valued at about $206,000. Finally, Calamos Advisors LLC grew its stake in Knife River by 32.0% during the first quarter. Calamos Advisors LLC now owns 20,955 shares of the company's stock worth $1,890,000 after buying an additional 5,080 shares during the period. Institutional investors own 80.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada initiated coverage on shares of Knife River in a research report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Wells Fargo & Company increased their price objective on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, DA Davidson decreased their target price 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $117.17.

Knife River Trading Down 0.2%

Knife River stock traded down $0.13 during trading hours on Monday, reaching $78.75. The company had a trading volume of 453,980 shares, compared to its average volume of 464,390. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.15 and a beta of 0.63. Knife River Corporation has a 12-month low of $67.22 and a 12-month high of $108.83. The company has a 50-day moving average price of $89.02 and a 200 day moving average price of $93.58. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly 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 company had revenue of $353.50 million during the quarter, compared to analysts' expectations of $343.98 million. Knife River had a return on equity of 12.83% and a net margin of 6.18%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.84) EPS. Equities analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current 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.