Knife River Co. (NYSE:KNF) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in shares of Knife River Co. (NYSE:KNF) by 36.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 78,803 shares of the company’s stock after purchasing an additional 21,142 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Knife River were worth $7,045,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after acquiring an additional 224,373 shares during the last quarter. Hood River Capital Management LLC raised its stake in Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after purchasing an additional 38,152 shares during the period. Congress Asset Management Co. boosted its holdings in Knife River by 10.7% in the 3rd quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock valued at $60,745,000 after purchasing an additional 65,930 shares during the last quarter. US Bancorp DE grew its stake in shares of Knife River by 0.3% in the 3rd quarter. US Bancorp DE now owns 423,337 shares of the company’s stock valued at $37,842,000 after buying an additional 1,090 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Knife River by 37.5% in the 2nd 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 period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Up 2.1 %

Knife River stock opened at $102.65 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The firm has a 50 day moving average price of $92.65 and a 200 day moving average price of $80.51. Knife River Co. has a fifty-two week low of $58.20 and a fifty-two week high of $103.33. The company has a market capitalization of $5.81 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts expect that Knife River Co. will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KNF shares. DA Davidson lifted their price target on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Loop Capital reduced their target price on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Oppenheimer increased their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River 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.