Intech Investment Management LLC Makes New Investment in Knife River Co. (NYSE:KNF)

Intech Investment Management LLC acquired a new position in shares of Knife River Co. (NYSE:KNF) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,296 shares of the company’s stock, valued at approximately $920,000.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB bought a new stake in Knife River during the 1st quarter valued at $9,730,000. Comerica Bank boosted its position in Knife River by 59.2% during the 1st quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after acquiring an additional 15,848 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Knife River by 311.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock valued at $1,009,000 after acquiring an additional 10,886 shares in the last quarter. Ausbil Investment Management Ltd boosted its position in Knife River by 599.5% during the 3rd quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock valued at $1,750,000 after acquiring an additional 16,780 shares in the last quarter. Finally, Chesapeake Capital Corp IL bought a new stake in Knife River during the 3rd quarter valued at $567,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Down 1.7 %

Knife River stock opened at $102.75 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 2.80 and a beta of 0.74. Knife River Co. has a 1-year low of $58.92 and a 1-year high of $105.63. The business has a fifty day moving average price of $94.15 and a 200-day moving average price of $81.38.

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). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $2.58 EPS. The business’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Knife River Co. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. DA Davidson increased their target price on 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 lowered their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Oppenheimer raised their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average target price of $93.67.

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.