SG Americas Securities LLC Acquires Shares of 7,963 Knife River Corporation (NYSE:KNF)

SG Americas Securities LLC acquired a new position in shares of Knife River Corporation (NYSE:KNF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,963 shares of the company's stock, valued at approximately $718,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors grew its holdings 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 acquiring an additional 603,170 shares during the period. Alliancebernstein L.P. boosted its position in shares of Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock valued at $111,965,000 after purchasing an additional 983,223 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Knife River by 1.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company's stock worth $105,121,000 after purchasing an additional 17,234 shares during the period. Driehaus Capital Management LLC increased its holdings in Knife River by 3.7% in the fourth quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock worth $99,934,000 after purchasing an additional 34,747 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its stake in Knife River by 4.3% in the fourth quarter. Hood River Capital Management LLC now owns 906,534 shares of the company's stock valued at $92,140,000 after buying an additional 37,431 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank Of Canada started coverage on shares of Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 price objective for the company. DA Davidson reduced their price target on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Finally, Wells Fargo & Company lifted 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $117.17.

Knife River Stock Up 4.6%

Shares of KNF traded up $3.72 during trading hours on Tuesday, reaching $84.78. The stock had a trading volume of 1,161,673 shares, compared to its average volume of 454,018. The firm has a 50-day simple moving average of $92.08 and a 200 day simple moving average of $95.71. Knife River Corporation has a 12 month low of $67.22 and a 12 month high of $108.83. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.04 and a beta of 0.84.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). The business had revenue of $353.50 million during the quarter, compared to the consensus estimate of $343.98 million. Knife River had a net margin of 6.18% and a return on equity of 12.83%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted ($0.84) earnings per share. Equities research analysts predict that Knife River Corporation will post 4.11 earnings per share for the current fiscal 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.