Teacher Retirement System of Texas Purchases 72,108 Shares of Knife River Corporation $KNF

Teacher Retirement System of Texas grew its position in shares of Knife River Corporation (NYSE:KNF) by 127.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,785 shares of the company’s stock after acquiring an additional 72,108 shares during the quarter. Teacher Retirement System of Texas owned about 0.23% of Knife River worth $10,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group increased its holdings in shares of Knife River by 31,200.0% during the first quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock valued at $28,000 after acquiring an additional 312 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Knife River during the first quarter valued at approximately $35,000. Bessemer Group Inc. increased its holdings in shares of Knife River by 173.9% during the first quarter. Bessemer Group Inc. now owns 545 shares of the company’s stock valued at $49,000 after acquiring an additional 346 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Knife River during the second quarter valued at approximately $52,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Knife River during the first quarter valued at approximately $83,000. Institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 1.0%

Shares of Knife River stock opened at $60.56 on Thursday. The stock has a fifty day simple moving average of $73.99 and a 200 day simple moving average of $83.22. Knife River Corporation has a 12-month low of $60.34 and a 12-month high of $108.83. The company has a market capitalization of $3.43 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 5.16 and a beta of 0.57. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%.The company had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. During the same quarter last year, the company posted $1.37 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Knife River has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KNF shares. DA Davidson decreased their price objective on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Oppenheimer decreased their price objective on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Knife River in a report on Tuesday, October 7th. They set a “cautious” rating for the company. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Knife River has a consensus rating of “Moderate Buy” and an average target price of $106.83.

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.