Polar Asset Management Partners Inc. Trims Position in Knife River Co. (NYSE:KNF)

Polar Asset Management Partners Inc. lessened its stake in shares of Knife River Co. (NYSE:KNF) by 35.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,200 shares of the company’s stock after selling 21,700 shares during the period. Polar Asset Management Partners Inc. owned 0.07% of Knife River worth $3,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in shares of Knife River by 165.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 38,160 shares of the company’s stock worth $3,411,000 after purchasing an additional 23,779 shares during the last quarter. Ausbil Investment Management Ltd increased its position in shares of Knife River by 599.5% during the 3rd quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock worth $1,750,000 after purchasing an additional 16,780 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of Knife River during the 3rd quarter worth about $567,000. Cerity Partners LLC increased its position in shares of Knife River by 24.4% during the 3rd quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock worth $2,278,000 after purchasing an additional 5,004 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Knife River by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after purchasing an additional 5,791 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KNF. DA Davidson raised their price objective on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer lifted their target price on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Loop Capital dropped their target price 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Knife River currently has an average rating of “Moderate Buy” and an average target price of $93.67.

Knife River Stock Performance

Shares of Knife River stock opened at $103.59 on Thursday. Knife River Co. has a one year low of $60.04 and a one year high of $105.63. The company has a market cap of $5.86 billion, a PE ratio of 29.68, a P/E/G ratio of 2.75 and a beta of 0.71. 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 business has a 50-day simple moving average of $95.26 and a 200-day simple moving average of $82.16.

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

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.