655,557 Shares in Knife River Co. (NYSE:KNF) Bought by Norges Bank

Norges Bank purchased a new stake in Knife River Co. (NYSE:KNF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 655,557 shares of the company's stock, valued at approximately $66,631,000. Norges Bank owned 1.16% of Knife River as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its position in Knife River by 10.5% in the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock valued at $38,201,000 after acquiring an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Knife River by 34.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company's stock worth $5,220,000 after buying an additional 13,199 shares during the period. State Street Corp increased its stake 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. JPMorgan Chase & Co. boosted its position in Knife River by 31.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company's stock valued at $18,695,000 after buying an additional 49,785 shares during the period. Finally, Stifel Financial Corp boosted its position in Knife River by 36.3% in the 3rd quarter. Stifel Financial Corp now owns 44,495 shares of the company's stock valued at $3,977,000 after buying an additional 11,839 shares during the period. Institutional investors and hedge funds own 80.11% of the company's stock.

Analyst Ratings Changes

KNF has been the topic of a number of recent research reports. Oppenheimer upped their price objective on Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Wells Fargo & Company started coverage on Knife River in a report on Monday, March 10th. They set an "overweight" rating and a $102.00 price target on the stock. Finally, Stephens reiterated an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $110.40.

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Knife River Stock Down 3.1 %

Shares of KNF stock traded down $2.61 on Tuesday, reaching $82.08. 634,423 shares of the stock were exchanged, compared to its average volume of 413,049. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.36 and a beta of 0.97. The business's 50 day moving average price is $94.65 and its 200 day moving average price is $96.92. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83.

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

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.