Strs Ohio Makes New $5.03 Million Investment 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 bought a new stake in Knife River Corporation (NYSE:KNF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 55,800 shares of the company's stock, valued at approximately $5,034,000. Strs Ohio owned approximately 0.10% of Knife River as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Knife River in the 1st quarter valued at about $26,000. State of Wyoming acquired a new stake in shares of Knife River in the 4th quarter valued at about $30,000. Brooklyn Investment Group raised its stake in shares of Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after purchasing an additional 312 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after purchasing an additional 271 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Knife River in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Performance

NYSE KNF traded down $0.84 on Friday, hitting $75.46. The stock had a trading volume of 1,393,932 shares, compared to its average volume of 643,120. Knife River Corporation has a one year low of $74.21 and a one year high of $108.83. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 5.56 and a beta of 0.62. The company's 50-day moving average is $82.91 and its two-hundred day moving average is $87.57.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KNF shares. DA Davidson dropped their price objective on shares of Knife River from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 10th. Wells Fargo & Company increased their price objective on shares of Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, Royal Bank Of Canada started coverage on shares of Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $114.33.

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.