Creative Planning Buys 6,052 Shares of Knife River Co. (NYSE:KNF)

Creative Planning grew its stake in shares of Knife River Co. (NYSE:KNF) by 103.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,924 shares of the company’s stock after buying an additional 6,052 shares during the quarter. Creative Planning’s holdings in Knife River were worth $1,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after buying an additional 224,373 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock valued at $53,377,000 after buying an additional 38,152 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Knife River by 37.5% during the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock valued at $26,949,000 after buying an additional 104,720 shares during the last quarter. Shellback Capital LP grew its stake in shares of Knife River by 28.3% during the second quarter. Shellback Capital LP now owns 321,323 shares of the company’s stock valued at $22,538,000 after buying an additional 70,801 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Knife River by 28.7% during the second quarter. AQR Capital Management LLC now owns 207,342 shares of the company’s stock valued at $14,543,000 after buying an additional 46,187 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Stock Down 1.8 %

KNF stock opened at $97.32 on Friday. Knife River Co. has a fifty-two week low of $48.67 and a fifty-two week high of $99.54. The business’s 50 day moving average price is $86.80 and its two-hundred day moving average price is $78.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm had revenue of $806.90 million for the quarter, compared to the consensus estimate of $803.81 million. During the same quarter in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their target price on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Knife River presently has a consensus rating of “Moderate Buy” and an average target price of $86.60.

About Knife River

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.