Knife River Corporation $KNF Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Knife River Corporation (NYSE:KNF) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,356 shares of the company’s stock after selling 275 shares during the quarter. State of Alaska Department of Revenue’s holdings in Knife River were worth $518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNF. Opal Wealth Advisors LLC acquired a new stake in Knife River during the 1st quarter worth $26,000. Brooklyn Investment Group raised its stake in Knife River by 31,200.0% during the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after acquiring an additional 312 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Knife River during the 1st quarter worth $35,000. Bessemer Group Inc. raised its stake in Knife River by 173.9% during the 1st quarter. Bessemer Group Inc. now owns 545 shares of the company’s stock worth $49,000 after acquiring an additional 346 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Knife River by 239.5% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the company’s stock worth $51,000 after acquiring an additional 400 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DA Davidson cut their price target on shares of Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Oppenheimer cut their price target on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Wells Fargo & Company began coverage on shares of Knife River in a research note on Tuesday. They set a “cautious” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research report on Wednesday. Finally, Royal Bank Of Canada began coverage on shares of Knife River in a research report on Monday, June 16th. They set an “outperform” rating and a $129.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.83.

Knife River Trading Down 1.4%

Shares of Knife River stock opened at $68.44 on Thursday. Knife River Corporation has a 1 year low of $66.75 and a 1 year high of $108.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. The company has a market capitalization of $3.88 billion, a P/E ratio of 25.44, a PEG ratio of 5.85 and a beta of 0.57. The company’s fifty day moving average is $80.91 and its two-hundred day moving average is $85.98.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). The firm had revenue of $833.80 million during the quarter, compared to analysts’ expectations of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 EPS. Knife River has set its FY 2025 guidance at EPS. Analysts forecast that Knife River Corporation will post 4.11 earnings per share for the current year.

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.