Gotham Asset Management LLC Sells 6,288 Shares of Knife River Co. (NYSE:KNF)

Gotham Asset Management LLC trimmed its stake in Knife River Co. (NYSE:KNF - Free Report) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,669 shares of the company's stock after selling 6,288 shares during the period. Gotham Asset Management LLC's holdings in Knife River were worth $1,999,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Granahan Investment Management LLC increased its stake in shares of Knife River by 35.9% in the fourth quarter. Granahan Investment Management LLC now owns 161,577 shares of the company's stock valued at $16,423,000 after buying an additional 42,720 shares in the last quarter. Deutsche Bank AG raised its position in shares of Knife River by 10.2% in the 4th quarter. Deutsche Bank AG now owns 180,087 shares of the company's stock valued at $18,304,000 after acquiring an additional 16,625 shares during the period. Driehaus Capital Management LLC increased its position in shares of Knife River by 3.7% in the 4th quarter. Driehaus Capital Management LLC now owns 983,212 shares of the company's stock valued at $99,934,000 after buying an additional 34,747 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Knife River by 14.4% during the 4th quarter. Cetera Investment Advisers now owns 9,782 shares of the company's stock valued at $994,000 after purchasing an additional 1,234 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Knife River in the fourth quarter valued at approximately $2,121,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

Shares of Knife River stock traded down $1.06 during midday trading on Wednesday, hitting $98.48. 39,500 shares of the company traded hands, compared to its average volume of 430,255. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.36 and a beta of 0.96. Knife River Co. has a 12 month low of $66.13 and a 12 month 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 firm's fifty day moving average price is $93.02 and its 200-day moving average price is $97.47.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. 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 equities 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 price target of $112.80.

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.