Cibc World Markets Corp Acquires New Position in Knife River Co. (NYSE:KNF)

Cibc World Markets Corp acquired a new stake in shares of Knife River Co. (NYSE:KNF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,316 shares of the company’s stock, valued at approximately $540,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in shares of Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after buying an additional 34,646 shares during the period. Geode Capital Management LLC lifted its stake in shares of Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after buying an additional 26,198 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Knife River by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after purchasing an additional 5,791 shares during the period. Congress Asset Management Co. raised its stake in Knife River by 2.5% during the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock worth $70,766,000 after purchasing an additional 16,698 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in Knife River by 2.1% during the third quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock worth $59,017,000 after purchasing an additional 13,490 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNF. Wells Fargo & Company began coverage on shares of Knife River in a research note on Monday, March 10th. They set an “overweight” rating and a $102.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $120.00 price target on shares of Knife River in a research note on Friday, February 14th. Finally, Oppenheimer increased their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $110.40.

Knife River Price Performance

Knife River stock opened at $91.07 on Friday. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The firm has a fifty day moving average of $97.93 and a 200-day moving average of $96.19. The firm has a market capitalization of $5.16 billion, a P/E ratio of 25.73, a PEG ratio of 2.36 and a beta of 0.88. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. As a group, analysts predict that Knife River Co. will post 4.11 EPS for the current 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.