Capital Research Global Investors Grows Stock Holdings in Knife River Co. (NYSE:KNF)

Capital Research Global Investors grew its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 45.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,936,532 shares of the company's stock after buying an additional 603,170 shares during the quarter. Capital Research Global Investors owned 3.42% of Knife River worth $196,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company's stock valued at $111,965,000 after buying an additional 983,223 shares during the last quarter. American Century Companies Inc. increased its stake in Knife River by 1,200.8% in the 4th 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 last quarter. Invesco Ltd. raised its holdings in shares of Knife River by 83.7% during the 4th quarter. Invesco Ltd. now owns 879,796 shares of the company's stock worth $89,422,000 after acquiring an additional 400,954 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Knife River by 2.5% during the 4th quarter. Congress Asset Management Co. now owns 696,245 shares of the company's stock valued at $70,766,000 after acquiring an additional 16,698 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Knife River in the fourth quarter valued at $66,631,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Knife River Trading Down 1.2 %

Knife River stock traded down $1.12 during mid-day trading on Friday, hitting $92.46. The company's stock had a trading volume of 332,551 shares, compared to its average volume of 421,256. Knife River Co. has a one year low of $66.13 and a one year high of $108.83. The stock has a market cap of $5.24 billion, a PE ratio of 26.12, a P/E/G ratio of 2.36 and a beta of 0.97. The company has a 50 day moving average of $91.84 and a 200-day moving average of $97.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

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