M&T Bank Corp Has $6.25 Million Position 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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Golden State Wealth Management LLC grew its stake in shares of Knife River by 14.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock valued at $389,000 after buying an additional 555 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Knife River by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock worth $729,000 after acquiring an additional 485 shares in the last quarter. GAMMA Investing LLC grew its position in Knife River by 99.3% in the first quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock worth $97,000 after acquiring an additional 535 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Knife River by 173.9% during the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company's stock worth $49,000 after purchasing an additional 346 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Knife River by 109.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 54,921 shares of the company's stock valued at $4,954,000 after purchasing an additional 28,669 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Ratings Changes

KNF has been the subject of a number of recent research reports. Royal Bank Of Canada assumed coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. DA Davidson reduced their price target 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. Finally, Wells Fargo & Company increased their price objective on Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Knife River currently has an average rating of "Buy" and an average price target of $117.17.

Knife River Stock Performance

NYSE:KNF traded down $1.95 during midday trading on Friday, reaching $78.82. The stock had a trading volume of 652,617 shares, compared to its average volume of 464,061. 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 Corporation has a 1-year low of $67.22 and a 1-year high of $108.83. The firm's fifty day simple moving average is $89.02 and its 200-day simple moving average is $93.65. The stock has a market capitalization of $4.47 billion, a P/E ratio of 24.86, a PEG ratio of 2.20 and a beta of 0.63.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share 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 analyst estimates of $343.98 million. Knife River had a return on equity of 12.83% and a net margin of 6.18%. Knife River's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.84) EPS. On average, equities research analysts forecast that Knife River Corporation will post 4.11 EPS for the current fiscal year.

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.