Sterling Capital Management LLC trimmed its position in shares of Knife River Corporation (NYSE:KNF – Free Report) by 86.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,916 shares of the company’s stock after selling 12,054 shares during the period. Sterling Capital Management LLC’s holdings in Knife River were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont acquired a new position in shares of Knife River in the 2nd quarter valued at $39,000. Allworth Financial LP grew its position in Knife River by 74.6% during the second quarter. Allworth Financial LP now owns 590 shares of the company’s stock valued at $49,000 after buying an additional 252 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Knife River during the second quarter valued at $50,000. Ballast Advisors LLC acquired a new stake in Knife River during the first quarter valued at $97,000. Finally, Nykredit A S purchased a new position in Knife River in the second quarter valued at $121,000. 80.11% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
KNF has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Knife River from $73.00 to $63.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. DA Davidson initiated coverage on Knife River in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 target price on the stock. Stephens set a $80.00 target price on Knife River in a research report on Wednesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Monday, August 24th. Finally, B. Riley Financial reduced their price target on Knife River from $105.00 to $65.00 and set a “buy” rating for the company in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.29.
Get Our Latest Research Report on KNF
Knife River Trading Up 1.0%
Shares of NYSE:KNF opened at $58.07 on Tuesday. The business’s 50 day moving average price is $55.57 and its 200-day moving average price is $73.97. Knife River Corporation has a 1 year low of $47.79 and a 1 year high of $96.28. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.26 and a beta of 0.46. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.66 and a quick ratio of 1.60.
Knife River (NYSE:KNF – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.36). The company had revenue of $938.59 million during the quarter, compared to analysts’ expectations of $931.39 million. Knife River had a return on equity of 8.73% and a net margin of 4.23%. Knife River’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. On average, equities research analysts forecast that Knife River Corporation will post 2.55 earnings per share for the current fiscal year.
Knife River Company Profile
Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.
Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.
Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.
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