Royce & Associates LP Makes New Investment in Knife River Co. (NYSE:KNF)

Royce & Associates LP purchased a new stake in Knife River Co. (NYSE:KNF - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,500 shares of the company's stock, valued at approximately $1,028,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KNF. abrdn plc purchased a new stake in Knife River during the third quarter worth about $22,934,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in 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 acquiring an additional 224,373 shares during the last quarter. Swedbank AB acquired a new position in Knife River during the first quarter worth about $9,730,000. Interval Partners LP acquired a new position in Knife River during the second quarter worth about $7,614,000. Finally, Federated Hermes Inc. raised its position in Knife River by 37.5% during the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company's stock worth $26,949,000 after acquiring an additional 104,720 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Trading Up 2.3 %

KNF stock traded up $2.22 on Thursday, hitting $100.52. 292,711 shares of the company were exchanged, compared to its average volume of 383,199. Knife River Co. has a twelve month low of $57.49 and a twelve month high of $103.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. The business's fifty day moving average is $92.28 and its two-hundred day moving average is $80.37. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted $2.58 EPS. The business's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts forecast that Knife River Co. will post 3.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Loop Capital cut their target price on shares of Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Oppenheimer lifted their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Finally, DA Davidson boosted their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Knife River currently has an average rating of "Moderate Buy" and a consensus price target of $93.67.

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.