State of Tennessee Department of Treasury Has $3.47 Million Position in Knife River Co. (NYSE:KNF)

State of Tennessee Department of Treasury increased its holdings in Knife River Co. (NYSE:KNF) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 34,137 shares of the company’s stock after buying an additional 1,837 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Knife River were worth $3,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake 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 valued at $196,829,000 after purchasing an additional 603,170 shares during the period. Alliancebernstein L.P. grew its position in Knife River by 830.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock valued at $111,965,000 after acquiring an additional 983,223 shares during the period. American Century Companies Inc. grew its position in Knife River by 1,200.8% in the fourth 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 period. Invesco Ltd. raised its stake in Knife River by 83.7% during the fourth quarter. Invesco Ltd. now owns 879,796 shares of the company’s stock worth $89,422,000 after acquiring an additional 400,954 shares in the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Knife River by 2.5% during the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock valued at $70,766,000 after acquiring an additional 16,698 shares during the period. Institutional investors own 80.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stephens reiterated 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 initiated coverage on shares of 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, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $110.40.

Knife River Trading Down 1.2 %

KNF opened at $92.46 on Friday. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83. The stock has a market capitalization of $5.24 billion, a PE ratio of 26.12, a PEG ratio of 2.36 and a beta of 0.97. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $91.58 and a two-hundred day moving average price of $97.13.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The business had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. As a group, equities analysts anticipate 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.