Capital Research Global Investors Acquires 603,170 Shares of Knife River Co. (NYSE:KNF)

Capital Research Global Investors boosted its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 45.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,936,532 shares of the company's stock after buying an additional 603,170 shares during the quarter. Capital Research Global Investors owned approximately 3.42% of Knife River worth $196,829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Knife River by 58.6% during the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after buying an additional 157 shares during the period. GAMMA Investing LLC boosted its holdings in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock valued at $55,000 after acquiring an additional 227 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Knife River during the 4th quarter valued at $109,000. Physician Wealth Advisors Inc. bought a new position in Knife River in the 4th quarter worth $114,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Knife River by 40.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock worth $169,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Analysts Set New Price Targets

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

Knife River Stock Down 1.2 %

Shares of KNF traded down $1.12 during mid-day trading on Friday, reaching $92.46. The company had a trading volume of 332,551 shares, compared to its average volume of 422,042. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The firm has a 50-day moving average price of $91.58 and a 200 day moving average price of $97.07.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The firm had revenue of $657.20 million for the quarter, compared to analysts' expectations of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. On average, sell-side analysts forecast that Knife River Co. will post 4.11 EPS 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.