Penn Capital Management Company LLC Lowers Stock Holdings in Knife River Co. (NYSE:KNF)

Penn Capital Management Company LLC decreased its holdings in shares of Knife River Co. (NYSE:KNF - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,413 shares of the company's stock after selling 41,486 shares during the period. Knife River accounts for about 1.6% of Penn Capital Management Company LLC's portfolio, making the stock its 8th biggest position. Penn Capital Management Company LLC owned 0.28% of Knife River worth $15,999,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in Knife River by 10.5% during the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock valued at $38,201,000 after purchasing an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Knife River by 34.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock valued at $5,220,000 after acquiring an additional 13,199 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Knife River by 31.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company's stock valued at $18,695,000 after purchasing an additional 49,785 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Knife River during the 4th quarter worth approximately $2,703,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Knife River in the fourth quarter worth approximately $2,062,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KNF. Wells Fargo & Company assumed coverage on Knife River in a report on Monday, March 10th. They set an "overweight" rating and a $102.00 price target for the company. Stephens reiterated an "overweight" rating and issued a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $110.40.

Knife River Stock Performance

KNF stock traded up $0.13 during midday trading on Tuesday, hitting $92.33. The company's stock had a trading volume of 96,598 shares, compared to its average volume of 421,154. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.36 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock's 50-day moving average price is $91.37 and its 200 day moving average price is $97.21. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. On average, equities analysts forecast that Knife River Co. will post 4.11 EPS for the current year.

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.