Ameriprise Financial Inc. Trims Position in Knife River Co. (NYSE:KNF)

Ameriprise Financial Inc. reduced its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 458,287 shares of the company's stock after selling 84,616 shares during the quarter. Ameriprise Financial Inc. owned 0.81% of Knife River worth $46,582,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC increased its holdings in Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $43,000 after buying an additional 157 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Knife River by 72.8% during the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company's stock valued at $55,000 after acquiring an additional 227 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Knife River in the fourth quarter worth approximately $79,000. Lee Danner & Bass Inc. purchased a new position in shares of Knife River during the fourth quarter valued at approximately $109,000. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of Knife River during the fourth quarter valued at approximately $114,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday. Stephens restated an "overweight" rating and issued a $120.00 price target on shares of Knife River in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River currently has a consensus rating of "Buy" and a consensus price target of $112.80.

Knife River Stock Performance

NYSE KNF traded up $0.20 during trading hours on Friday, hitting $99.92. 82,498 shares of the company's stock traded hands, compared to its average volume of 477,719. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83. The business's fifty day moving average price is $92.29 and its two-hundred day moving average price is $97.41. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $5.66 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.36 and a beta of 0.96.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The company had revenue of $353.50 million for the quarter, compared to analysts' expectations of $343.98 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. Knife River's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.84) earnings per share. Equities research analysts predict that Knife River Co. will post 4.11 EPS for the current year.

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.