Swedbank AB Acquires New Holdings in Knife River Co. (NYSE:KNF)

Swedbank AB acquired a new stake in Knife River Co. (NYSE:KNF) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 120,000 shares of the company’s stock, valued at approximately $9,730,000. Swedbank AB owned 0.21% of Knife River at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Systems of Alabama increased its stake in Knife River by 0.3% during the first quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock worth $5,759,000 after purchasing an additional 185 shares during the period. Oliver Luxxe Assets LLC increased its stake in Knife River by 1.2% during the first quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock worth $1,418,000 after purchasing an additional 206 shares during the period. Kennedy Capital Management LLC increased its stake in Knife River by 0.3% during the first quarter. Kennedy Capital Management LLC now owns 109,821 shares of the company’s stock worth $8,904,000 after purchasing an additional 299 shares during the period. State of Michigan Retirement System increased its stake in Knife River by 2.2% during the first quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock worth $1,123,000 after purchasing an additional 300 shares during the period. Finally, Hudson Value Partners LLC increased its stake in Knife River by 0.8% during the first quarter. Hudson Value Partners LLC now owns 48,322 shares of the company’s stock worth $3,918,000 after purchasing an additional 360 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stephens assumed coverage on Knife River in a research report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.67.

Knife River Stock Performance

Shares of KNF stock traded down $3.54 during trading hours on Friday, hitting $73.30. The stock had a trading volume of 374,849 shares, compared to its average volume of 414,440. The stock’s 50 day moving average is $72.69 and its 200 day moving average is $73.57. The firm has a market capitalization of $4.15 billion, a PE ratio of 23.65, a PEG ratio of 2.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.75 and a quick ratio of 1.49. Knife River Co. has a twelve month low of $43.77 and a twelve month high of $83.78.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The company had revenue of $329.60 million for the quarter, compared to analyst estimates of $300.98 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted ($516.50) earnings per share. As a group, research analysts forecast that Knife River Co. will post 3.51 earnings per share for the current fiscal year.

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.