Moors & Cabot Inc. Purchases New Shares in Knife River Co. (NYSE:KNF)

Moors & Cabot Inc. acquired a new position in Knife River Co. (NYSE:KNF) 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.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Monday, November 6th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.72. Knife River had a return on equity of 16.60% and a net margin of 6.62%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts forecast that Knife River Co. will post 3.15 earnings per share for the current fiscal year.

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.