Knife River Co. (NYSE:KNF) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its holdings in shares of Knife River Co. (NYSE:KNF) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,034,246 shares of the company’s stock after purchasing an additional 17,234 shares during the quarter. Silvercrest Asset Management Group LLC owned 1.83% of Knife River worth $105,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in shares of Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after buying an additional 983,223 shares in the last quarter. American Century Companies Inc. boosted its stake in Knife River by 1,200.8% during the 4th quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock valued at $90,224,000 after acquiring an additional 819,439 shares during the last quarter. Norges Bank acquired a new position in Knife River during the 4th quarter worth $66,631,000. Capital Research Global Investors increased its position in shares of Knife River by 45.2% in the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock worth $196,829,000 after purchasing an additional 603,170 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Knife River in the 4th quarter valued at about $46,750,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on KNF shares. Stephens reiterated an “overweight” rating and issued a $120.00 price target on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company lifted their target price on Knife River from $102.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $112.80.

Knife River Trading Up 0.4%

NYSE:KNF opened at $99.69 on Friday. The firm has a market capitalization of $5.65 billion, a P/E ratio of 28.16, a P/E/G ratio of 2.36 and a beta of 0.96. The business has a 50 day simple moving average of $92.29 and a 200 day simple moving average of $97.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.32). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same quarter in the prior year, the company posted ($0.84) EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research 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.