Moors & Cabot Inc. acquired a new position in Knife River Co. (NYSE:KNF – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,391 shares of the company’s stock, valued at approximately $800,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New Hampshire bought a new position in shares of Knife River in the 2nd quarter worth about $27,000. BerganKDV Wealth Management LLC purchased a new position in shares of Knife River during the second quarter valued at approximately $29,000. Concord Wealth Partners bought a new stake in shares of Knife River in the 2nd quarter worth approximately $37,000. HM Payson & Co. purchased a new stake in shares of Knife River in the 2nd quarter worth approximately $40,000. Finally, Bartlett & Co. LLC bought a new position in Knife River during the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 67.14% of the company’s stock.
Knife River Trading Up 1.7 %
Shares of KNF opened at $57.65 on Friday. The company’s fifty day moving average is $51.65. The company has a quick ratio of 1.64, a current ratio of 2.38 and a debt-to-equity ratio of 0.54. Knife River Co. has a 1-year low of $33.67 and a 1-year high of $60.99.
Analyst Ratings Changes
Several equities research analysts have commented on KNF shares. DA Davidson boosted their target price on Knife River from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Oppenheimer started coverage on shares of Knife River in a research report on Monday, August 14th. They set an “outperform” rating and a $65.00 price objective on the stock.
About Knife River
Knife River Corporation provides aggregates-based construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting services to support the aggregate-based product lines, including heavy-civil construction, asphalt and concrete paving, and site development and grading.
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