JPMorgan Chase & Co. Buys 49,785 Shares of Knife River Co. (NYSE:KNF)

JPMorgan Chase & Co. raised its stake in Knife River Co. (NYSE:KNF - Free Report) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 209,136 shares of the company's stock after buying an additional 49,785 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of Knife River worth $18,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Knife River by 12.2% during 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. State Street Corp raised its holdings in Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company's stock worth $179,054,000 after buying an additional 34,646 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Knife River by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company's stock worth $119,561,000 after buying an additional 26,198 shares during the period. Hood River Capital Management LLC increased its position in shares of Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company's stock worth $53,377,000 after acquiring an additional 38,152 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 5,791 shares during the period. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Loop Capital decreased their price objective on shares of Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Oppenheimer raised their target price on Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, DA Davidson upped their price target on Knife River from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.75.

Knife River Stock Down 3.1 %

Shares of NYSE:KNF traded down $3.01 during trading on Friday, reaching $95.23. 512,396 shares of the company traded hands, compared to its average volume of 534,416. Knife River Co. has a 1-year low of $61.82 and a 1-year high of $108.39. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.39 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 2.81 and a beta of 0.78. The firm has a fifty day simple moving average of $100.89 and a 200 day simple moving average of $88.08.

Knife River (NYSE:KNF - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the firm earned $2.58 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts anticipate that Knife River Co. will post 3.49 earnings per share for the current fiscal 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.