Voya Investment Management LLC Cuts Position in Knife River Co. (NYSE:KNF)

Voya Investment Management LLC trimmed its stake in Knife River Co. (NYSE:KNF - Free Report) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,859 shares of the company's stock after selling 7,529 shares during the quarter. Voya Investment Management LLC's holdings in Knife River were worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its position in Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock worth $38,201,000 after buying an additional 39,991 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Knife River by 34.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock valued at $5,220,000 after purchasing an additional 13,199 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Knife River by 31.2% during the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company's stock worth $18,695,000 after purchasing an additional 49,785 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in shares of Knife River during the 4th quarter valued at about $2,703,000. Finally, Drive Wealth Management LLC purchased a new position in shares of Knife River during the 4th quarter valued at about $2,062,000. 80.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Knife River Trading Up 0.0 %

KNF traded up $0.03 during midday trading on Wednesday, reaching $91.84. 651,488 shares of the company's stock traded hands, compared to its average volume of 427,466. 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 current ratio of 2.67 and a quick ratio of 1.64. The firm has a fifty day moving average of $91.26 and a two-hundred day moving average of $97.25. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 2.36 and a beta of 0.96.

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