Northern Trust Corp Grows Stock Position in Knife River Co. (NYSE:KNF)

Northern Trust Corp increased its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 750,517 shares of the company's stock after buying an additional 90,450 shares during the quarter. Northern Trust Corp owned about 1.33% of Knife River worth $76,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its holdings in shares of Knife River by 58.6% during 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 during the last quarter. GAMMA Investing LLC grew 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 worth $55,000 after purchasing an additional 227 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Knife River during the 4th quarter worth about $79,000. Lee Danner & Bass Inc. acquired a new position in Knife River in the fourth quarter valued at about $109,000. Finally, Physician Wealth Advisors Inc. purchased a new position in Knife River during the fourth quarter worth about $114,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Up 1.6 %

Shares of Knife River stock traded up $1.54 during trading on Friday, hitting $94.91. 526,091 shares of the stock were exchanged, compared to its average volume of 428,341. The firm's 50-day moving average price is $91.24 and its 200 day moving average price is $97.20. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth 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 current ratio of 2.67 and a quick ratio of 1.64.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.82% and a net margin of 6.96%. The company had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. During the same period in the previous year, the business posted ($0.84) EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KNF shares. Stephens reiterated an "overweight" rating and issued a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company started coverage on Knife River in a report on Monday, March 10th. They set an "overweight" rating and a $102.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Knife River presently has a consensus rating of "Buy" and a consensus target price of $110.40.

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.