Strs Ohio Takes Position in Knife River Corporation $KNF

Key Points

• Strs Ohio acquired 55,800 shares of Knife River Corporation, valued at approximately $5.03 million, increasing its stake in the company to 0.10% as per SEC filings.
• Knife River's stock price saw a decline of 3.3% following disappointing earnings, reporting $0.89 EPS which fell below analyst expectations of $1.27.
• Brokerages like Royal Bank of Canada and Wells Fargo have rated Knife River stock with a consensus rating of "Buy" and a price target averaging $114.33.

Strs Ohio purchased a new stake in shares of Knife River Corporation (NYSE:KNF - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 55,800 shares of the company's stock, valued at approximately $5,034,000. Strs Ohio owned approximately 0.10% of Knife River at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Ellsworth Advisors LLC raised its position in Knife River by 7.4% during the first quarter. Ellsworth Advisors LLC now owns 7,192 shares of the company's stock valued at $649,000 after acquiring an additional 495 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Knife River by 41.1% in the first quarter. Intech Investment Management LLC now owns 31,419 shares of the company's stock valued at $2,834,000 after buying an additional 9,152 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Knife River by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company's stock valued at $20,529,000 after buying an additional 32,762 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Knife River in the first quarter valued at approximately $424,000. Finally, United Services Automobile Association purchased a new stake in shares of Knife River in the first quarter valued at approximately $327,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNF has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Royal Bank Of Canada began coverage on Knife River in a research report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target for the company. Finally, DA Davidson dropped 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. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $114.33.

Knife River Trading Down 0.4%

NYSE KNF traded down $0.31 on Wednesday, reaching $75.14. 775,054 shares of the company were exchanged, compared to its average volume of 570,434. The business's fifty day moving average price is $83.18 and its 200 day moving average price is $87.84. The stock has a market capitalization of $4.26 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 5.63 and a beta of 0.62. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. Knife River Corporation has a fifty-two week low of $74.21 and a fifty-two week high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). The company had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%.The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.37 EPS. Knife River has set its FY 2025 guidance at EPS. Analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current 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.