T. Rowe Price Investment Management Inc. Purchases Shares of 459,955 Knife River Co. (NYSE:KNF)

T. Rowe Price Investment Management Inc. acquired a new stake in shares of Knife River Co. (NYSE:KNF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 459,955 shares of the company's stock, valued at approximately $46,750,000. T. Rowe Price Investment Management Inc. owned 0.81% of Knife River at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC increased its position 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 purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Knife River by 72.8% in the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company's stock worth $55,000 after acquiring an additional 227 shares during the period. Lee Danner & Bass Inc. bought a new stake in Knife River in the fourth quarter valued at about $109,000. Physician Wealth Advisors Inc. bought a new stake in Knife River during the 4th quarter valued at $114,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Knife River by 40.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock worth $169,000 after acquiring an additional 476 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Performance

Shares of KNF stock traded up $3.45 on Friday, hitting $97.37. 155,670 shares of the stock traded hands, compared to its average volume of 422,147. 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 Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The company's fifty day moving average is $91.22 and its 200 day moving average is $97.18. The company has a market capitalization of $5.52 billion, a PE ratio of 27.54, a PEG ratio of 2.36 and a beta of 0.96.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping 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 company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. On average, equities research analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KNF. Wells Fargo & Company began coverage on shares of Knife River in a research report on Monday, March 10th. They set an "overweight" rating and a $102.00 target price on the stock. Stephens reiterated an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $110.40.

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.