6,366 Shares in Knife River Co. (NYSE:KNF) Bought by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL acquired a new position in shares of Knife River Co. (NYSE:KNF - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,366 shares of the company's stock, valued at approximately $567,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNF. Barrow Hanley Mewhinney & Strauss LLC increased its position in Knife River by 12.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company's stock worth $144,785,000 after purchasing an additional 224,373 shares during the period. Hood River Capital Management LLC increased its holdings in Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company's stock valued at $53,377,000 after purchasing an additional 38,152 shares during the last quarter. Congress Asset Management Co. lifted its stake in Knife River by 10.7% in the third quarter. Congress Asset Management Co. now owns 679,547 shares of the company's stock valued at $60,745,000 after buying an additional 65,930 shares during the period. US Bancorp DE raised its position in shares of Knife River by 0.3% in the 3rd quarter. US Bancorp DE now owns 423,337 shares of the company's stock valued at $37,842,000 after acquiring an additional 1,090 shares during the period. Finally, Federated Hermes Inc. increased its stake in Knife River by 37.5% in the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company's stock valued at $26,949,000 after purchasing an additional 104,720 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Performance

NYSE:KNF traded down $0.42 during mid-day trading on Friday, hitting $94.25. The stock had a trading volume of 218,749 shares, compared to its average volume of 409,981. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.53 and a beta of 0.74. Knife River Co. has a twelve month low of $56.36 and a twelve month high of $103.33. The company's 50 day simple moving average is $91.06 and its 200 day simple moving average is $79.98.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.82 by ($0.22). The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $2.58 earnings per share. On average, equities research analysts forecast that Knife River Co. will post 3.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on KNF. Oppenheimer raised their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Loop Capital decreased their price objective on Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Finally, DA Davidson boosted their target price on Knife River from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.67.

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.