Townsquare Capital LLC Purchases 4,619 Shares of Knife River Co. (NYSE:KNF)

Townsquare Capital LLC grew its position in Knife River Co. (NYSE:KNF - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,896 shares of the company's stock after acquiring an additional 4,619 shares during the quarter. Townsquare Capital LLC owned 0.06% of Knife River worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. raised its stake in Knife River by 10.5% during the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company's stock valued at $38,201,000 after purchasing an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Knife River by 34.6% in 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 last quarter. JPMorgan Chase & Co. raised its position in shares of Knife River by 31.2% during 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 in the last quarter. Stifel Financial Corp lifted its holdings in shares of 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 acquiring an additional 11,839 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Knife River in the fourth quarter worth about $2,703,000. 80.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company began coverage on Knife River in a research note on Monday, March 10th. They issued an "overweight" rating and a $102.00 price objective for the company. Stephens reaffirmed an "overweight" rating and set 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.com, the stock has a consensus rating of "Buy" and a consensus target price of $110.40.

Knife River Trading Down 1.5 %

Shares of KNF traded down $1.40 during mid-day trading on Friday, reaching $91.67. 330,013 shares of the company's stock traded hands, compared to its average volume of 419,105. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a market cap of $5.19 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.36 and a beta of 0.97. The stock's 50-day moving average is $92.77 and its two-hundred day moving average is $97.15.

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