Cibc World Markets Corp Takes Position in Knife River Co. (NYSE:KNF)

Cibc World Markets Corp bought a new stake in Knife River Co. (NYSE:KNF - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,316 shares of the company's stock, valued at approximately $540,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its position in shares of Knife River by 36.7% in the third quarter. Thrivent Financial for Lutherans now owns 78,803 shares of the company's stock worth $7,045,000 after acquiring an additional 21,142 shares in the last quarter. Intech Investment Management LLC bought a new stake in Knife River in the third quarter valued at about $920,000. Charles Schwab Investment Management Inc. raised its stake in Knife River by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company's stock valued at $62,513,000 after buying an additional 5,791 shares in the last quarter. Citigroup Inc. lifted its holdings in Knife River by 222.9% during the 3rd quarter. Citigroup Inc. now owns 51,425 shares of the company's stock worth $4,597,000 after buying an additional 35,497 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Knife River by 24.4% in the third quarter. Cerity Partners LLC now owns 25,487 shares of the company's stock worth $2,278,000 after purchasing an additional 5,004 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on KNF. Wells Fargo & Company assumed coverage on Knife River in a report on Monday, March 10th. They set an "overweight" rating and a $102.00 target price for the company. Stephens reaffirmed an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Finally, Oppenheimer lifted their price target on Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $110.40.

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Knife River Stock Down 1.0 %

Shares of NYSE KNF traded down $0.97 during mid-day trading on Wednesday, reaching $96.10. The company had a trading volume of 438,949 shares, compared to its average volume of 388,812. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The stock has a market capitalization of $5.44 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. The stock's 50 day moving average is $97.90 and its 200-day moving average is $96.65. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates 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 anticipate that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

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.