JPMorgan Chase & Co. Buys 49,785 Shares of Knife River Co. (NYSE:KNF)

JPMorgan Chase & Co. boosted its stake in Knife River Co. (NYSE:KNF) by 31.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,136 shares of the company’s stock after purchasing an additional 49,785 shares during the quarter. JPMorgan Chase & Co.’s holdings in Knife River were worth $18,695,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after acquiring an additional 176 shares during the last quarter. Huntington National Bank increased its stake in Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 293 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Knife River in the second quarter valued at approximately $43,000. Harvest Fund Management Co. Ltd acquired a new stake in Knife River in the third quarter worth $60,000. Finally, Sittner & Nelson LLC boosted its position in shares of Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Oppenheimer raised their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. DA Davidson increased their price target on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Loop Capital cut their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.75.

Knife River Trading Up 1.0 %

Shares of NYSE:KNF opened at $98.00 on Friday. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 2.81 and a beta of 0.78. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. Knife River Co. has a 12 month low of $61.82 and a 12 month high of $108.39. The company’s fifty day simple moving average is $100.93 and its 200 day simple moving average is $87.91.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.58 earnings per share. As a group, research analysts forecast that Knife River Co. will post 3.49 EPS for the current fiscal 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.