Knife River Co. (NYSE:KNF) Shares Purchased by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC grew its stake in shares of Knife River Co. (NYSE:KNF) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,493 shares of the company’s stock after acquiring an additional 206 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Knife River were worth $1,418,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KNF. Vanguard Group Inc. grew its position in Knife River by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after acquiring an additional 503,892 shares during the period. Dimensional Fund Advisors LP lifted its position in Knife River by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock valued at $92,546,000 after buying an additional 199,389 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in Knife River by 48.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock worth $76,138,000 after buying an additional 373,359 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Knife River by 122.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after acquiring an additional 450,574 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Knife River during the 4th quarter valued at $40,548,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KNF. Wolfe Research started coverage on Knife River in a report on Friday, March 8th. They issued a “peer perform” rating for the company. Oppenheimer upped their price objective on shares of Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Stephens started coverage on Knife River in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and an average target price of $77.67.

Knife River Stock Down 1.8 %

NYSE KNF traded down $1.26 on Monday, hitting $68.88. 122,115 shares of the stock traded hands, compared to its average volume of 396,781. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $73.26 and a 200 day moving average of $71.81. Knife River Co. has a twelve month low of $41.53 and a twelve month high of $83.78. The company has a market capitalization of $3.90 billion and a P/E ratio of 22.63.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The firm had revenue of $329.60 million for the quarter, compared to the consensus estimate of $300.98 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned ($516.50) earnings per share. As a group, analysts expect that Knife River Co. will post 3.52 earnings per share for the current fiscal 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.