abrdn plc Decreases Stock Holdings in Knife River Co. (NYSE:KNF)

abrdn plc cut its holdings in shares of Knife River Co. (NYSE:KNF - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,590 shares of the company's stock after selling 44,966 shares during the quarter. abrdn plc owned approximately 0.37% of Knife River worth $21,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company's stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Huntington National Bank increased its position in shares of Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company's stock worth $31,000 after purchasing an additional 293 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Knife River in the third quarter worth approximately $60,000. Sittner & Nelson LLC increased its position in shares of Knife River by 18.5% in the third quarter. Sittner & Nelson LLC now owns 960 shares of the company's stock worth $86,000 after purchasing an additional 150 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Knife River by 13.2% in the third quarter. Covestor Ltd now owns 1,288 shares of the company's stock worth $115,000 after purchasing an additional 150 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Down 1.7 %

Shares of KNF stock traded down $1.75 during mid-day trading on Friday, reaching $102.75. 363,013 shares of the company's stock traded hands, compared to its average volume of 339,194. The company's 50-day moving average price is $102.64 and its 200-day moving average price is $92.30. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. The company has a market cap of $5.82 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.41 and a beta of 0.76. Knife River Co. has a 12 month low of $65.67 and a 12 month high of $108.83.

Wall Street Analyst Weigh In

KNF has been the topic of several research reports. Oppenheimer lifted their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. DA Davidson lifted their price target on shares of Knife River from $90.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Loop Capital decreased their price target on shares of Knife River from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.75.

Knife River 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.