459,955 Shares in Knife River Co. (NYSE:KNF) Bought by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. purchased a new stake in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 459,955 shares of the company’s stock, valued at approximately $46,750,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KNF. Larson Financial Group LLC grew its holdings in shares of Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares during the period. GAMMA Investing LLC lifted its position in Knife River by 72.8% during the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock valued at $55,000 after buying an additional 227 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Knife River during the fourth quarter worth approximately $109,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Knife River in the fourth quarter worth $114,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Knife River by 40.2% in the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock valued at $169,000 after acquiring an additional 476 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

Knife River stock opened at $92.46 on Friday. 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 firm’s fifty day moving average price is $91.58 and its 200 day moving average price is $97.13. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. 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 Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. On average, research analysts forecast that Knife River Co. will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KNF has been the subject of several recent research reports. Stephens reiterated an “overweight” rating and issued a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Wells Fargo & Company started coverage on Knife River in a research note on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, Knife River presently has an average rating of “Buy” and an average price target of $110.40.

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.