Teacher Retirement System of Texas Sells 56,313 Shares of Knife River Co. (NYSE:KNF)

Teacher Retirement System of Texas trimmed its position in Knife River Co. (NYSE:KNF - Free Report) by 38.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 91,633 shares of the company's stock after selling 56,313 shares during the period. Teacher Retirement System of Texas owned 0.16% of Knife River worth $9,314,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Knife River in the fourth quarter valued at about $14,600,000. Hotchkis & Wiley Capital Management LLC bought a new position in Knife River in the 3rd quarter valued at approximately $10,267,000. Barclays PLC boosted its position in Knife River by 156.2% during the 3rd quarter. Barclays PLC now owns 170,101 shares of the company's stock worth $15,205,000 after buying an additional 103,713 shares during the period. JPMorgan Chase & Co. grew its holdings in Knife River by 31.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company's stock worth $18,695,000 after acquiring an additional 49,785 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Knife River in the 4th quarter valued at approximately $4,201,000. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Trading Down 1.0 %

KNF traded down $0.97 during trading on Wednesday, reaching $96.10. 438,949 shares of the stock traded hands, compared to its average volume of 459,424. The stock's 50-day moving average is $97.90 and its 200 day moving average is $96.65. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $5.44 billion, a PE ratio of 27.15, a P/E/G ratio of 2.36 and a beta of 0.88.

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Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.41 EPS 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. Equities analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Stephens reaffirmed an "overweight" rating and set a $120.00 target price on shares of Knife River in a report on Friday, February 14th. Finally, Wells Fargo & Company started coverage on Knife River in a research note on Monday, March 10th. They issued an "overweight" rating and a $102.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.