Federated Hermes Inc. Trims Stock Position in Knife River Co. (NYSE:KNF)

Federated Hermes Inc. reduced its position in Knife River Co. (NYSE:KNF - Free Report) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,235 shares of the company's stock after selling 27,658 shares during the quarter. Federated Hermes Inc. owned approximately 0.80% of Knife River worth $45,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $43,000 after acquiring an additional 157 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock worth $55,000 after purchasing an additional 227 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Knife River in the fourth quarter worth about $109,000. Physician Wealth Advisors Inc. purchased a new stake in shares of Knife River during the 4th quarter valued at approximately $114,000. Finally, Jones Financial Companies Lllp boosted its holdings in Knife River by 40.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company's stock worth $169,000 after buying an additional 476 shares during the period. 80.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KNF has been the topic of a number of analyst reports. Stephens reissued an "overweight" rating and set a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of Knife River in a research report on Monday, March 10th. They set an "overweight" rating and a $102.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $110.40.

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Knife River Price Performance

Shares of KNF stock traded up $4.20 during trading on Friday, hitting $93.47. The company had a trading volume of 836,541 shares, compared to its average volume of 417,271. 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 $5.29 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock's 50-day moving average is $93.69 and its two-hundred day moving average is $97.00.

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