Driehaus Capital Management LLC Acquires 34,747 Shares of Knife River Co. (NYSE:KNF)

Driehaus Capital Management LLC increased its holdings in Knife River Co. (NYSE:KNF) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 983,212 shares of the company’s stock after purchasing an additional 34,747 shares during the quarter. Knife River accounts for about 0.8% of Driehaus Capital Management LLC’s holdings, making the stock its 21st biggest holding. Driehaus Capital Management LLC’s holdings in Knife River were worth $99,934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KNF. Barclays PLC lifted its position in Knife River by 156.2% during the third quarter. Barclays PLC now owns 170,101 shares of the company’s stock valued at $15,205,000 after purchasing an additional 103,713 shares during the period. Tidal Investments LLC lifted its holdings in Knife River by 125.7% during the third quarter. Tidal Investments LLC now owns 9,623 shares of the company’s stock valued at $860,000 after purchasing an additional 5,360 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Knife River by 10.5% during the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after purchasing an additional 39,991 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Knife River by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after acquiring an additional 49,785 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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 price target on the stock. Stephens reissued an “overweight” rating and set a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Knife River presently has a consensus rating of “Buy” and a consensus target price of $110.40.

Knife River Trading Up 0.0 %

KNF opened at $91.84 on Thursday. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.36 and a beta of 0.96. 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 business has a fifty day moving average price of $91.18 and a 200 day moving average price of $97.21.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). The business had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned ($0.84) earnings per share. Sell-side analysts expect that Knife River Co. will post 4.11 earnings per share for the current fiscal 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.