Price T Rowe Associates Inc. MD Raises Position in Knife River Co. (NYSE:KNF)

Price T Rowe Associates Inc. MD boosted its holdings in Knife River Co. (NYSE:KNF - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,287 shares of the company's stock after purchasing an additional 6,022 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of Knife River worth $3,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. grew its stake in shares of Knife River by 830.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock worth $111,965,000 after buying an additional 983,223 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company's stock worth $90,224,000 after acquiring an additional 819,439 shares during the last quarter. Norges Bank bought a new position in shares of Knife River during the fourth quarter valued at $66,631,000. Capital Research Global Investors raised its position in shares of Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock worth $196,829,000 after purchasing an additional 603,170 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Knife River by 83.7% in the 4th quarter. Invesco Ltd. now owns 879,796 shares of the company's stock worth $89,422,000 after purchasing an additional 400,954 shares in the last quarter. Institutional investors own 80.11% of the company's stock.

Analyst Ratings Changes

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

Knife River Stock Performance

Shares of KNF stock traded up $1.54 during trading hours on Friday, reaching $94.91. The company had a trading volume of 526,091 shares, compared to its average volume of 429,808. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The business has a fifty day moving average price of $91.39 and a 200-day moving average price of $97.25. Knife River Co. has a one year low of $66.13 and a one year high of $108.83. The firm has a market cap of $5.38 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96.

Knife River (NYSE:KNF - Get Free Report) last posted its 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 company had revenue of $353.50 million during the quarter, compared to the consensus estimate of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.84) EPS. Sell-side analysts predict 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.