Knife River Co. (NYSE:KNF) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in shares of Knife River Co. (NYSE:KNF) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,500 shares of the company’s stock after selling 2,350 shares during the period. Gabelli Funds LLC owned approximately 0.13% of Knife River worth $7,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KNF. Franklin Resources Inc. boosted its position in shares of Knife River by 10.5% during the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after purchasing an additional 39,991 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Knife River by 34.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company’s stock worth $5,220,000 after buying an additional 13,199 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Knife River by 31.2% during the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after buying an additional 49,785 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Knife River in the fourth quarter valued at $2,703,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Knife River in the 4th quarter valued at $2,062,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Price Performance

Shares of NYSE KNF opened at $93.00 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. The stock’s 50-day moving average is $93.12 and its two-hundred day moving average is $96.99. Knife River Co. has a 1-year low of $66.13 and a 1-year high of $108.83.

Knife River (NYSE:KNF) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. Analysts forecast that Knife River Co. will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on KNF. Wells Fargo & Company assumed coverage on Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 target price for the company. Stephens reissued an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $110.40.

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.