First Manhattan CO. LLC. Trims Holdings in Knife River Co. (NYSE:KNF)

First Manhattan CO. LLC. trimmed its holdings in Knife River Co. (NYSE:KNF) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,936 shares of the company’s stock after selling 1,544 shares during the period. First Manhattan CO. LLC. owned about 0.11% of Knife River worth $6,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in shares of Knife River by 0.8% in the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock valued at $1,586,000 after purchasing an additional 124 shares during the last quarter. Larson Financial Group LLC increased its holdings in 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. Private Advisor Group LLC raised its holdings in shares of Knife River by 1.1% in the fourth quarter. Private Advisor Group LLC now owns 15,696 shares of the company’s stock valued at $1,595,000 after acquiring an additional 170 shares in the last quarter. Bragg Financial Advisors Inc lifted its position in shares of Knife River by 0.4% in the 4th quarter. Bragg Financial Advisors Inc now owns 45,365 shares of the company’s stock worth $4,611,000 after purchasing an additional 185 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Knife River by 1.6% during the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock worth $1,346,000 after buying an additional 203 shares during the period. 80.11% of the stock is currently owned by institutional investors.

Knife River Stock Performance

NYSE:KNF opened at $94.91 on Friday. The company has a fifty day simple moving average of $91.39 and a two-hundred day simple moving average of $97.21. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share 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 company had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $343.98 million. During the same quarter in the prior year, the firm posted ($0.84) EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on KNF shares. Wells Fargo & Company started coverage on Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 price objective for the company. Stephens reissued an “overweight” rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Knife River currently has an average rating of “Buy” and an average price target of $110.40.

Knife River Company Profile

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.