Hood River Capital Management LLC Boosts Stake in Knife River Co. (NYSE:KNF)

Hood River Capital Management LLC grew its stake in shares of Knife River Co. (NYSE:KNF - Free Report) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 906,534 shares of the company's stock after purchasing an additional 37,431 shares during the quarter. Knife River makes up approximately 1.4% of Hood River Capital Management LLC's investment portfolio, making the stock its 21st largest position. Hood River Capital Management LLC owned approximately 1.60% of Knife River worth $92,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its position in shares of Knife River by 830.7% in the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock worth $111,965,000 after buying an additional 983,223 shares during the last quarter. American Century Companies Inc. grew its holdings in Knife River by 1,200.8% during the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company's stock worth $90,224,000 after acquiring an additional 819,439 shares during the period. Norges Bank purchased a new stake in Knife River during the fourth quarter worth $66,631,000. Capital Research Global Investors increased its stake in shares of Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after purchasing an additional 603,170 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Knife River in the 4th quarter valued at $46,750,000. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

Shares of KNF opened at $88.47 on Wednesday. The business's 50 day moving average is $92.25 and its two-hundred day moving average is $97.06. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 24.99, a PEG 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.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $655.80 million. Analysts forecast that Knife River Co. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on KNF. Stephens restated an "overweight" rating and set a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company assumed coverage on Knife River in a research note on Monday, March 10th. They issued an "overweight" rating and a $102.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River has an average rating of "Buy" and a consensus price target of $110.40.

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.

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