Knife River Co. (NYSE:KNF) Stake Increased by F M Investments LLC

F M Investments LLC boosted its stake in Knife River Co. (NYSE:KNF) by 40.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,113 shares of the company’s stock after acquiring an additional 36,633 shares during the period. F M Investments LLC owned 0.22% of Knife River worth $11,363,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KNF. abrdn plc acquired a new stake in Knife River during the third quarter valued at approximately $22,934,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake 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 valued at $144,785,000 after purchasing an additional 224,373 shares during the last quarter. Swedbank AB acquired a new stake in shares of Knife River during the first quarter worth $9,730,000. M&G Plc bought a new stake in shares of Knife River during the 1st quarter valued at about $9,289,000. Finally, Interval Partners LP acquired a new stake in Knife River during the second quarter worth about $7,614,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.60.

Knife River Price Performance

NYSE KNF traded up $0.15 on Friday, reaching $97.47. 578,162 shares of the stock traded hands, compared to its average volume of 378,563. Knife River Co. has a 12 month low of $53.34 and a 12 month high of $99.54. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 2.44 and a beta of 0.82. The firm’s fifty day simple moving average is $87.16 and its 200 day simple moving average is $78.66. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The company had revenue of $806.90 million during the quarter, compared to the consensus estimate of $803.81 million. During the same period in the prior year, the company earned $1.00 EPS. Knife River’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts predict that Knife River Co. will post 3.68 EPS for the current fiscal year.

Knife River Company 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.