Knife River Corporation $KNF Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Knife River Corporation by 129.0% during the first quarter, now owning about 1.86% of the company, valued at approximately $95 million.
• The company reported earnings of $0.89 per share, missing analysts' expectations of $1.27, with revenue of $833.80 million for the quarter, up 3.3% year-over-year.
• Knife River has seen significant interest from institutional investors, with 80.11% of shares currently held by them, and six analysts rating the stock as a Buy.

T. Rowe Price Investment Management Inc. increased its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 129.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,053,386 shares of the company's stock after purchasing an additional 593,431 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.86% of Knife River worth $95,026,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KNF. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Knife River during the 1st quarter worth $252,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Knife River in the first quarter valued at about $92,000. Brooklyn Investment Group raised its stake in Knife River by 31,200.0% in the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after buying an additional 312 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Knife River in the first quarter valued at about $216,000. Finally, Algert Global LLC purchased a new stake in Knife River in the first quarter valued at about $222,000. Institutional investors own 80.11% of the company's stock.

Knife River Stock Performance

Shares of KNF stock traded down $3.97 during midday trading on Wednesday, hitting $86.19. The company had a trading volume of 259,092 shares, compared to its average volume of 555,273. The company's 50 day simple moving average is $83.60 and its 200 day simple moving average is $89.83. Knife River Corporation has a 52-week low of $73.91 and a 52-week high of $108.83. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 6.63 and a beta of 0.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). The firm 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 revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. Research analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Knife River Company 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.