Bayesian Capital Management LP Makes New Investment in Knife River Co. (NYSE:KNF)

Bayesian Capital Management LP purchased a new stake in Knife River Co. (NYSE:KNF) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,478 shares of the company’s stock, valued at approximately $687,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its stake in Knife River by 3.1% in the first quarter. Public Employees Retirement System of Ohio now owns 13,026 shares of the company’s stock worth $1,056,000 after acquiring an additional 395 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Knife River by 7.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,954 shares of the company’s stock worth $2,591,000 after purchasing an additional 2,194 shares in the last quarter. Gabelli Funds LLC increased its holdings in Knife River by 0.6% in the first quarter. Gabelli Funds LLC now owns 79,200 shares of the company’s stock valued at $6,422,000 after buying an additional 500 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Knife River in the first quarter valued at $7,297,000. Finally, Seven Eight Capital LP purchased a new stake in Knife River during the 1st quarter worth about $593,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of Knife River stock traded down $1.65 on Tuesday, hitting $78.98. The stock had a trading volume of 717,333 shares, compared to its average volume of 396,431. The company’s 50 day moving average price is $72.26 and its 200 day moving average price is $73.34. The stock has a market cap of $4.47 billion and a price-to-earnings ratio of 25.81. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Knife River Co. has a 52-week low of $42.72 and a 52-week high of $83.78.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The firm had revenue of $329.60 million during the quarter, compared to analyst estimates of $300.98 million. Knife River had a net margin of 6.19% and a return on equity of 14.65%. Knife River’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($516.50) earnings per share. On average, research analysts anticipate that Knife River Co. will post 3.51 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Stephens started coverage on Knife River in a report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.67.

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.