American Century Companies Inc. Buys 819,439 Shares of Knife River Co. (NYSE:KNF)

American Century Companies Inc. grew its stake in Knife River Co. (NYSE:KNF) by 1,200.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 887,680 shares of the company’s stock after buying an additional 819,439 shares during the period. American Century Companies Inc.’s holdings in Knife River were worth $90,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in Knife River by 0.8% during the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock worth $1,586,000 after acquiring an additional 124 shares during the period. Larson Financial Group LLC grew its holdings in Knife River by 58.6% in the fourth 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 increased its stake in 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 purchasing an additional 170 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Knife River by 1.6% during the fourth quarter. Natixis Advisors LLC now owns 13,244 shares of the company’s stock valued at $1,346,000 after purchasing an additional 203 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Knife River by 72.8% during the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after purchasing an additional 227 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Price Performance

KNF stock opened at $96.91 on Tuesday. The company has a market capitalization of $5.49 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. Knife River Co. has a 52-week low of $66.13 and a 52-week high of $108.83. The business has a 50-day simple moving average of $97.96 and a two-hundred day simple moving average of $96.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Research analysts expect that Knife River Co. will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KNF has been the subject of a number of research analyst reports. Wells Fargo & Company started coverage on Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Stephens reaffirmed an “overweight” rating and set a $120.00 target price on shares of Knife River in a research report on Friday, February 14th. Finally, Oppenheimer increased their target price on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $110.40.

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.