Pinebridge Investments L.P. Buys 6,119 Shares of Knife River Co. (NYSE:KNF)

Pinebridge Investments L.P. increased its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,455 shares of the company's stock after acquiring an additional 6,119 shares during the quarter. Pinebridge Investments L.P.'s holdings in Knife River were worth $2,079,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new position in shares of Knife River during the fourth quarter valued at about $6,292,000. Stifel Financial Corp raised its stake in Knife River by 1.7% during the fourth quarter. Stifel Financial Corp now owns 45,254 shares of the company's stock valued at $4,600,000 after purchasing an additional 759 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in Knife River by 5.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 34,137 shares of the company's stock valued at $3,470,000 after purchasing an additional 1,837 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Knife River by 4.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 49,412 shares of the company's stock valued at $5,027,000 after purchasing an additional 2,097 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Knife River by 8.3% in the 4th quarter. MetLife Investment Management LLC now owns 65,360 shares of the company's stock worth $6,643,000 after buying an additional 4,999 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company assumed coverage on Knife River in a report on Monday, March 10th. They issued an "overweight" rating and a $102.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $110.40.

Knife River Trading Up 2.4 %

NYSE:KNF traded up $2.30 during mid-day trading on Friday, hitting $96.22. 457,582 shares of the stock traded hands, compared to its average volume of 423,931. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.36 and a beta of 0.96. The firm's 50 day moving average is $91.28 and its two-hundred day moving average is $97.24.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $657.20 million for the quarter, compared to analysts' expectations of $655.80 million. On average, equities research analysts predict that Knife River Co. will post 4.11 earnings per share for the current year.

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.