Sittner & Nelson LLC Raises Position in Knife River Co. (NYSE:KNF)

Sittner & Nelson LLC lifted its stake in Knife River Co. (NYSE:KNF) by 18.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 960 shares of the company’s stock after purchasing an additional 150 shares during the period. Sittner & Nelson LLC’s holdings in Knife River were worth $86,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after buying an additional 176 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Knife River during the 2nd quarter worth approximately $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Knife River during the second quarter valued at approximately $43,000. DekaBank Deutsche Girozentrale bought a new position in shares of Knife River in the second quarter worth approximately $96,000. Finally, Greenleaf Trust purchased a new stake in shares of Knife River in the third quarter worth $214,000. 80.11% of the stock is owned by institutional investors.

Knife River Price Performance

NYSE:KNF opened at $101.08 on Friday. The business’s 50-day moving average is $88.61 and its 200 day moving average is $79.18. Knife River Co. has a 12 month low of $54.67 and a 12 month high of $103.14. The company has a market capitalization of $5.72 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.20 and a beta of 0.74. The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company earned $2.58 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Knife River Co. will post 3.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Oppenheimer lifted their target price on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. DA Davidson upped their price objective on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Loop Capital decreased their target price on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

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.