Alberta Investment Management Corp Buys Shares of 32,786 Knife River Co. (NYSE:KNF)

Alberta Investment Management Corp purchased a new position in Knife River Co. (NYSE:KNF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,786 shares of the company's stock, valued at approximately $3,332,000. Alberta Investment Management Corp owned about 0.06% of Knife River as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning boosted its holdings in Knife River by 103.1% in the 3rd quarter. Creative Planning now owns 11,924 shares of the company's stock worth $1,066,000 after buying an additional 6,052 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Knife River by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 124,821 shares of the company's stock valued at $11,158,000 after buying an additional 888 shares during the period. Private Advisor Group LLC increased its position in shares of Knife River by 3.4% during the third quarter. Private Advisor Group LLC now owns 15,526 shares of the company's stock valued at $1,388,000 after buying an additional 512 shares during the period. Greenleaf Trust purchased a new stake in shares of Knife River in the third quarter worth about $214,000. Finally, International Assets Investment Management LLC boosted its position in shares of Knife River by 12,902.2% in the third quarter. International Assets Investment Management LLC now owns 71,512 shares of the company's stock valued at $6,392,000 after acquiring an additional 70,962 shares during the period. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Price Performance

KNF traded down $8.27 during midday trading on Friday, hitting $93.08. The stock had a trading volume of 692,095 shares, compared to its average volume of 436,559. The company has a market cap of $5.27 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 2.40 and a beta of 0.76. Knife River Co. has a 1 year low of $66.13 and a 1 year high of $108.83. The business has a fifty day moving average of $102.22 and a 200 day moving average of $93.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

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

Analyst Ratings Changes

KNF has been the topic of several recent analyst reports. DA Davidson increased their target price 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. Oppenheimer lifted their price objective on Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Stephens reaffirmed an "overweight" rating and issued a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Finally, Loop Capital dropped their price target on Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $112.50.

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.