Alliancebernstein L.P. Has $111.97 Million Holdings in Knife River Co. (NYSE:KNF)

Alliancebernstein L.P. lifted its position in shares of Knife River Co. (NYSE:KNF) by 830.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,101,588 shares of the company’s stock after acquiring an additional 983,223 shares during the quarter. Alliancebernstein L.P. owned approximately 1.95% of Knife River worth $111,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Knife River by 90.6% during the third quarter. FMR LLC now owns 12,091 shares of the company’s stock worth $1,081,000 after purchasing an additional 5,746 shares during the last quarter. Walleye Capital LLC acquired a new position in Knife River in the 3rd quarter valued at approximately $1,332,000. Verition Fund Management LLC increased its position in Knife River by 130.8% in the 3rd quarter. Verition Fund Management LLC now owns 15,983 shares of the company’s stock valued at $1,429,000 after acquiring an additional 9,057 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Knife River by 3.1% during the third quarter. HighTower Advisors LLC now owns 8,500 shares of the company’s stock worth $756,000 after purchasing an additional 258 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Knife River in the third quarter worth $10,267,000. Institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

KNF has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 target price on the stock. Stephens reaffirmed an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Finally, Oppenheimer increased their target price on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $110.40.

Knife River Stock Up 3.2 %

Shares of Knife River stock opened at $95.27 on Thursday. The stock’s 50-day moving average is $96.44 and its 200 day moving average is $97.09. Knife River Co. has a one year low of $66.13 and a one year high of $108.83. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64.

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