Tidal Investments LLC Buys 5,360 Shares of Knife River Co. (NYSE:KNF)

Tidal Investments LLC increased its position in shares of Knife River Co. (NYSE:KNF - Free Report) by 125.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,623 shares of the company's stock after acquiring an additional 5,360 shares during the period. Tidal Investments LLC's holdings in Knife River were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KNF. Sanctuary Advisors LLC acquired a new position in Knife River in the third quarter worth approximately $365,000. Geode Capital Management LLC boosted its position in Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company's stock worth $119,561,000 after purchasing an additional 26,198 shares during the period. Barclays PLC grew its stake in Knife River by 156.2% in the 3rd quarter. Barclays PLC now owns 170,101 shares of the company's stock valued at $15,205,000 after buying an additional 103,713 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Knife River in the third quarter valued at about $255,000. Finally, Orion Portfolio Solutions LLC increased its position in Knife River by 7.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,446 shares of the company's stock worth $308,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 80.11% of the company's stock.

Knife River Stock Performance

NYSE:KNF traded up $5.68 during mid-day trading on Friday, hitting $105.71. The stock had a trading volume of 1,584,154 shares, compared to its average volume of 396,068. The company's 50 day simple moving average is $98.88 and its 200 day simple moving average is $84.79. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.90 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. Knife River Co. has a twelve month low of $61.50 and a twelve month high of $108.39.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm's revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Knife River Co. will post 3.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KNF has been the subject of several research reports. Loop Capital reduced their target price on Knife River from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. DA Davidson boosted their target price on Knife River from $90.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Oppenheimer raised their price objective 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.33.

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.