Knife River Co. (NYSE:KNF) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Knife River Co. (NYSE:KNF) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,262 shares of the company’s stock after acquiring an additional 98,804 shares during the period. Franklin Resources Inc. owned about 0.92% of Knife River worth $52,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Knife River by 1.8% in the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after buying an additional 34,646 shares during the period. Geode Capital Management LLC grew its position in shares of Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock worth $119,561,000 after buying an additional 26,198 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Knife River by 830.7% during the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after buying an additional 983,223 shares during the period. American Century Companies Inc. lifted its stake in Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock worth $90,224,000 after acquiring an additional 819,439 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in Knife River by 2.5% during the 4th quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock worth $70,766,000 after acquiring an additional 16,698 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Performance

Shares of KNF stock opened at $83.98 on Friday. The stock’s 50-day moving average is $95.77 and its two-hundred day moving average is $97.03. 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 Co. has a 1 year low of $66.13 and a 1 year high of $108.83. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.36 and a beta of 0.89.

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

Analyst Ratings Changes

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