KLP Kapitalforvaltning AS Purchases Shares of 11,275 Knife River Co. (NYSE:KNF)

KLP Kapitalforvaltning AS acquired a new stake in shares of Knife River Co. (NYSE:KNF - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,275 shares of the company's stock, valued at approximately $1,146,000.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $43,000 after acquiring an additional 157 shares in the last quarter. GAMMA Investing LLC boosted its position in Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company's stock valued at $55,000 after purchasing an additional 227 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in Knife River in the fourth quarter valued at about $109,000. Jones Financial Companies Lllp increased its position 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 purchasing an additional 476 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Knife River during the 4th quarter worth about $203,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Stock Performance

KNF traded down $4.14 on Thursday, hitting $91.07. The company had a trading volume of 608,952 shares, compared to its average volume of 407,147. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The company's fifty day moving average price is $96.19 and its 200 day moving average price is $97.05. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83.

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Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million during the quarter, compared to analysts' expectations of $655.80 million. Equities analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KNF has been the subject of several recent research reports. Stephens reissued an "overweight" rating and issued a $120.00 price target on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of Knife River in a research report on Monday, March 10th. They issued an "overweight" rating and a $102.00 target price for the company. Finally, Oppenheimer raised their price target on shares of Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $110.40.

About Knife River

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.