Elgethun Capital Management Invests $115,000 in Knife River Co. (NYSE:KNF)

Elgethun Capital Management acquired a new stake in Knife River Co. (NYSE:KNF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,643 shares of the company’s stock, valued at approximately $115,000.

A number of other large investors have also made changes to their positions in KNF. Pacer Advisors Inc. purchased a new stake in shares of Knife River in the 2nd quarter valued at approximately $396,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Knife River during the second quarter worth $516,000. First PREMIER Bank purchased a new stake in Knife River in the second quarter valued at $419,000. Xponance Inc. acquired a new position in shares of Knife River in the 2nd quarter valued at $327,000. Finally, AdvisorNet Financial Inc acquired a new stake in shares of Knife River during the 2nd quarter worth about $297,000. 67.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KNF shares. DA Davidson lifted their price target on shares of Knife River from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Oppenheimer started coverage on shares of Knife River in a report on Monday, August 14th. They issued an “outperform” rating and a $65.00 target price for the company.

Knife River Trading Up 0.1 %

Shares of NYSE KNF traded up $0.06 during midday trading on Tuesday, hitting $57.26. The company’s stock had a trading volume of 60,072 shares, compared to its average volume of 690,099. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 2.38. Knife River Co. has a 1 year low of $33.67 and a 1 year high of $60.99. The company’s fifty day moving average price is $51.74.

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

Knife River Company Profile

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.