Knife River Corporation $KNF Shares Sold by Aberdeen Group plc

Aberdeen Group plc lowered its position in shares of Knife River Corporation (NYSE:KNF) by 12.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 260,654 shares of the company’s stock after selling 36,528 shares during the period. Aberdeen Group plc owned about 0.46% of Knife River worth $21,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Knife River by 19.1% during the first quarter. Fifth Third Bancorp now owns 661 shares of the company’s stock worth $60,000 after purchasing an additional 106 shares in the last quarter. Brady Martz Wealth Solutions LLC increased its position in shares of Knife River by 2.3% during the second quarter. Brady Martz Wealth Solutions LLC now owns 6,786 shares of the company’s stock worth $554,000 after purchasing an additional 152 shares in the last quarter. Unified Investment Management increased its position in shares of Knife River by 2.6% during the second quarter. Unified Investment Management now owns 5,968 shares of the company’s stock worth $487,000 after purchasing an additional 153 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its position in Knife River by 2.0% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company’s stock valued at $722,000 after acquiring an additional 159 shares during the period. Finally, Greenleaf Trust increased its position in Knife River by 6.7% in the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company’s stock valued at $232,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KNF. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. DA Davidson dropped their price target on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Royal Bank Of Canada began coverage on Knife River in a research report on Monday, June 16th. They issued an “outperform” rating and a $129.00 price target on the stock. Oppenheimer dropped their price target on Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company began coverage on Knife River in a research report on Tuesday, October 7th. They issued a “cautious” rating on the stock. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $106.83.

Knife River Stock Performance

NYSE KNF opened at $69.61 on Tuesday. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $79.97 and its two-hundred day moving average is $85.30. Knife River Corporation has a 12-month low of $66.16 and a 12-month high of $108.83. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 5.68 and a beta of 0.57.

Knife River (NYSE:KNF) last released its 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 business had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. During the same quarter in the previous year, the firm posted $1.37 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. Research analysts expect that Knife River Corporation 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.