Voya Investment Management LLC Sells 7,529 Shares of Knife River Co. (NYSE:KNF)

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

Several other large investors also recently modified their holdings of the business. Franklin Resources Inc. grew its position in shares of Knife River by 10.5% in the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock worth $38,201,000 after acquiring an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Knife River by 34.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock worth $5,220,000 after purchasing an additional 13,199 shares during the period. JPMorgan Chase & Co. increased 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 valued at $18,695,000 after purchasing an additional 49,785 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Knife River during the fourth quarter worth $2,703,000. Finally, Drive Wealth Management LLC bought a new position in shares of Knife River in the 4th quarter worth about $2,062,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Knife River Trading Up 1.6 %

KNF stock traded up $1.54 during mid-day trading on Friday, reaching $94.91. 526,091 shares of the stock traded hands, compared to its average volume of 429,808. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The stock's fifty day moving average is $91.39 and its 200-day moving average is $97.25. The company has a market cap of $5.38 billion, a P/E ratio of 26.81, a P/E/G ratio of 2.36 and a beta of 0.96. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45.

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