Boothbay Fund Management LLC Takes Position in Knife River Co. (NYSE:KNF)

Boothbay Fund Management LLC bought a new stake in Knife River Co. (NYSE:KNF) during the 4th quarter, HoldingsChannel reports. The fund bought 13,340 shares of the company’s stock, valued at approximately $1,356,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Knife River in the fourth quarter valued at $7,659,000. Two Sigma Securities LLC raised its stake in shares of Knife River by 12.6% in the fourth quarter. Two Sigma Securities LLC now owns 2,700 shares of the company’s stock valued at $274,000 after acquiring an additional 302 shares during the period. Hancock Whitney Corp raised its stake in shares of Knife River by 10.4% in the fourth quarter. Hancock Whitney Corp now owns 13,423 shares of the company’s stock valued at $1,364,000 after acquiring an additional 1,266 shares during the period. Hood River Capital Management LLC lifted its holdings in Knife River by 4.3% during the 4th quarter. Hood River Capital Management LLC now owns 906,534 shares of the company’s stock valued at $92,140,000 after buying an additional 37,431 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Knife River during the 4th quarter valued at about $46,750,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company began coverage on shares of Knife River in a research report on Monday, March 10th. They set an “overweight” rating and a $102.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River currently has an average rating of “Buy” and an average target price of $110.40.

Knife River Stock Performance

Shares of NYSE:KNF opened at $92.18 on Tuesday. The firm has a market cap of $5.22 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The firm’s 50 day simple moving average is $91.37 and its 200-day simple moving average is $97.21. Knife River Co. has a one year low of $66.13 and a one year high of $108.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $657.20 million for 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, equities analysts predict that Knife River Co. will post 4.11 EPS for the current year.

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.