Retirement Systems of Alabama Has $6.15 Million Stake in Knife River Co. (NYSE:KNF)

Retirement Systems of Alabama reduced its stake in Knife River Co. (NYSE:KNF) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 68,772 shares of the company’s stock after selling 1,097 shares during the quarter. Retirement Systems of Alabama’s holdings in Knife River were worth $6,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the last quarter. Huntington National Bank lifted its stake in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after acquiring an additional 293 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Knife River during the 2nd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Knife River during the 2nd quarter worth $43,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Knife River in the 3rd quarter worth about $60,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Price Performance

Shares of KNF opened at $100.92 on Thursday. The business has a 50-day moving average of $98.31 and a 200-day moving average of $84.42. 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 company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.90 and a beta of 0.70. Knife River Co. has a 1 year low of $61.50 and a 1 year high of $108.39.

Knife River (NYSE:KNF) last released its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Knife River Co. will post 3.49 earnings per share for the current year.

Analysts Set New Price Targets

KNF has been the subject of several research reports. Loop Capital cut their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. DA Davidson raised their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Oppenheimer boosted their target price 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. One equities 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 a consensus rating of “Moderate Buy” and an average price target of $95.33.

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.