T. Rowe Price Investment Management Inc. Invests $46.75 Million in Knife River Co. (NYSE:KNF)

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

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Knife River by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,287 shares of the company's stock worth $3,994,000 after buying an additional 6,022 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Knife River by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 20,455 shares of the company's stock worth $2,079,000 after purchasing an additional 6,119 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Knife River in the 4th quarter worth $6,292,000. Stifel Financial Corp boosted its holdings in shares of Knife River by 1.7% during the 4th 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 during the last quarter. Finally, State of Tennessee Department of Treasury grew its position in shares of 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. Institutional investors own 80.11% of the company's stock.

Knife River Stock Up 1.2 %

NYSE KNF traded up $1.07 on Wednesday, hitting $93.42. The stock had a trading volume of 451,992 shares, compared to its average volume of 422,387. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The business's fifty day moving average price is $91.19 and its 200 day moving average price is $97.18.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. Equities research analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company began coverage on Knife River in a research report on Monday, March 10th. They set an "overweight" rating and a $102.00 target price for the company. Stephens restated an "overweight" rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average 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.