New York State Common Retirement Fund Raises Holdings in Knife River Co. (NYSE:KNF)

New York State Common Retirement Fund lifted its position in Knife River Co. (NYSE:KNF) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,766 shares of the company’s stock after purchasing an additional 32,134 shares during the quarter. New York State Common Retirement Fund owned about 0.28% of Knife River worth $10,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new position in shares of Knife River in the 4th quarter worth $35,000. DekaBank Deutsche Girozentrale bought a new stake in Knife River during the third quarter worth approximately $34,000. Planned Solutions Inc. bought a new stake in Knife River during the fourth quarter worth approximately $53,000. Clear Street Markets LLC bought a new stake in shares of Knife River in the 3rd quarter valued at approximately $59,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Knife River in the 3rd quarter valued at approximately $66,000. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KNF shares. Bank of America started coverage on Knife River in a report on Friday, January 5th. They set a “buy” rating and a $81.00 price target on the stock. Wolfe Research started coverage on shares of Knife River in a research note on Friday, March 8th. They set a “peer perform” rating for the company. Loop Capital assumed coverage on shares of Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price objective for the company. Finally, Oppenheimer boosted their target price on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

Knife River Trading Down 0.6 %

Shares of KNF opened at $77.74 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 1.71. The firm has a market capitalization of $4.40 billion and a price-to-earnings ratio of -0.15. The company has a 50-day moving average of $77.34 and a 200 day moving average of $66.96. Knife River Co. has a 1-year low of $33.67 and a 1-year high of $83.78.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The firm had revenue of $646.90 million during the quarter, compared to analyst estimates of $566.47 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The company’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Knife River Co. will post 3.5 EPS for the current year.

Knife River Company Profile

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.