Bank of New York Mellon Corp Sells 19,287 Shares of Knife River Co. (NYSE:KNF)

Bank of New York Mellon Corp lessened its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,363 shares of the company's stock after selling 19,287 shares during the quarter. Bank of New York Mellon Corp owned about 1.14% of Knife River worth $65,798,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company's stock valued at $31,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC lifted its position in Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock valued at $55,000 after purchasing an additional 227 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Knife River in the 3rd quarter worth $60,000. Sittner & Nelson LLC increased its holdings in shares of Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company's stock worth $86,000 after buying an additional 150 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company's stock valued at $115,000 after buying an additional 150 shares in the last quarter. Institutional investors own 80.11% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on KNF. Stephens reiterated an "overweight" rating and issued a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Oppenheimer lifted their target price on Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $112.50.

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Knife River Trading Down 1.4 %

NYSE:KNF traded down $1.23 during mid-day trading on Friday, hitting $87.18. 358,225 shares of the stock traded hands, compared to its average volume of 424,524. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.36 and a beta of 0.76. The firm's 50 day moving average is $99.97 and its two-hundred day moving average is $95.01.

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

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.