Nuveen Asset Management LLC Cuts Position in Knife River Co. (NYSE:KNF)

Nuveen Asset Management LLC lowered its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 509,408 shares of the company's stock after selling 135,472 shares during the quarter. Nuveen Asset Management LLC owned about 0.90% of Knife River worth $51,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KNF. Alliancebernstein L.P. raised its stake in shares of Knife River by 830.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock worth $111,965,000 after purchasing an additional 983,223 shares during the last quarter. American Century Companies Inc. increased its holdings in Knife River by 1,200.8% in the 4th quarter. American Century Companies Inc. now owns 887,680 shares of the company's stock worth $90,224,000 after buying an additional 819,439 shares during the period. Norges Bank acquired a new position in Knife River in the 4th quarter worth approximately $66,631,000. Capital Research Global Investors raised its position in Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock worth $196,829,000 after buying an additional 603,170 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Knife River during the 4th quarter valued at approximately $46,750,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stephens reiterated an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company boosted their target price on shares of Knife River from $102.00 to $114.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $112.80.

Knife River Stock Performance

NYSE:KNF traded down $0.09 during trading hours on Thursday, reaching $96.70. The company had a trading volume of 228,205 shares, compared to its average volume of 430,125. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The business's 50 day moving average price is $93.08 and its 200-day moving average price is $97.46. The firm has a market cap of $5.48 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results 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). Knife River had a net margin of 6.96% and a return on equity of 14.82%. The firm had revenue of $353.50 million for the quarter, compared to analysts' expectations of $343.98 million. During the same period last year, the firm earned ($0.84) earnings per share. Knife River's revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts forecast that Knife River Co. will post 4.11 EPS for the current year.

About Knife River

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.