Knife River Co. (NYSE:KNF) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in Knife River Co. (NYSE:KNF) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,609 shares of the company’s stock after purchasing an additional 124 shares during the period. Arizona State Retirement System’s holdings in Knife River were worth $1,586,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KNF. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Knife River in the third quarter worth about $10,267,000. Barclays PLC boosted its holdings in shares of Knife River by 156.2% in the third quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after buying an additional 103,713 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Knife River by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after buying an additional 49,785 shares during the period. Van ECK Associates Corp acquired a new position in shares of Knife River in the fourth quarter worth about $4,201,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after buying an additional 39,991 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Knife River in a report on Monday. They issued an “overweight” rating and a $102.00 target price for the company. Oppenheimer raised their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Stephens restated an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $110.40.

Knife River Stock Performance

KNF stock opened at $89.21 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The stock has a market cap of $5.05 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.36 and a beta of 0.88. The firm has a 50 day simple moving average of $98.88 and a 200 day simple moving average of $95.49. Knife River Co. has a 52 week low of $66.13 and a 52 week high of $108.83.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. Research analysts anticipate that Knife River Co. will post 4.11 earnings per share 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.