New York State Common Retirement Fund boosted its holdings in Knife River Co. (NYSE:KNF – Free Report) by 421.9% in the third quarter, Holdings Channel reports. The firm owned 124,632 shares of the company’s stock after purchasing an additional 100,750 shares during the quarter. New York State Common Retirement Fund’s holdings in Knife River were worth $6,086,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in KNF. Sittner & Nelson LLC acquired a new stake in Knife River in the second quarter valued at $27,000. Lazard Asset Management LLC acquired a new stake in Knife River in the second quarter valued at $28,000. Quent Capital LLC acquired a new stake in Knife River in the third quarter valued at $32,000. Concord Wealth Partners acquired a new stake in Knife River in the second quarter valued at $37,000. Finally, Covestor Ltd acquired a new stake in Knife River in the second quarter valued at $47,000. Institutional investors own 67.14% of the company’s stock.
Analysts Set New Price Targets
KNF has been the subject of a number of research reports. Siebert Williams Shank raised their target price on shares of Knife River from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Bank of America initiated coverage on shares of Knife River in a research note on Friday, January 5th. They set a “buy” rating and a $81.00 target price for the company.
Knife River Stock Performance
NYSE KNF opened at $68.33 on Friday. The firm has a 50-day moving average of $64.68 and a 200-day moving average of $55.91. 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 52-week low of $33.67 and a 52-week high of $69.29.
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.
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