Federated Hermes Inc. Raises Stock Holdings in Knife River Co. (NYSE:KNF)

Federated Hermes Inc. raised its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 4,029.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,567 shares of the company's stock after purchasing an additional 245,475 shares during the quarter. Federated Hermes Inc. owned approximately 0.44% of Knife River worth $16,649,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Knife River by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company's stock valued at $270,532,000 after purchasing an additional 46,737 shares during the period. Schonfeld Strategic Advisors LLC increased its position in Knife River by 19.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company's stock valued at $54,720,000 after purchasing an additional 184,192 shares during the period. Northern Trust Corp increased its position in Knife River by 4.6% during the 3rd quarter. Northern Trust Corp now owns 610,212 shares of the company's stock valued at $29,797,000 after purchasing an additional 26,757 shares during the period. US Bancorp DE increased its position in Knife River by 1.5% during the 3rd quarter. US Bancorp DE now owns 446,710 shares of the company's stock valued at $21,813,000 after purchasing an additional 6,521 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Knife River by 48.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company's stock valued at $17,019,000 after purchasing an additional 113,575 shares during the period. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Up 2.5 %

Knife River stock traded up $1.89 during mid-day trading on Tuesday, reaching $78.47. The stock had a trading volume of 212,282 shares, compared to its average volume of 389,820. Knife River Co. has a one year low of $33.67 and a one year high of $83.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 1.71. The company has a market capitalization of $4.44 billion and a price-to-earnings ratio of -0.15. The company has a 50-day moving average price of $76.34 and a two-hundred day moving average price of $65.97.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm had revenue of $646.90 million for the quarter, compared to analysts' expectations of $566.47 million. The firm's revenue was up 20.4% on a year-over-year basis. On average, analysts expect that Knife River Co. will post 3.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Bank of America assumed coverage on shares of Knife River in a report on Friday, January 5th. They set a "buy" rating and a $81.00 target price on the stock. Loop Capital assumed coverage on shares of Knife River in a report on Tuesday, February 13th. They set a "buy" rating and a $81.00 target price on the stock. Wolfe Research assumed coverage on shares of Knife River in a report on Friday, March 8th. They set a "peer perform" rating on the stock. Oppenheimer boosted their target price on shares of Knife River from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, March 22nd. Finally, Siebert Williams Shank boosted their target price on shares of Knife River from $65.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, December 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Knife River presently has a consensus rating of "Moderate Buy" and an average price target of $76.20.

Knife River Company Profile

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.