Knife River Co. (NYSE:KNF) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP lessened its position in shares of Knife River Co. (NYSE:KNF) by 6.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,826 shares of the company’s stock after selling 486 shares during the period. Seven Eight Capital LP’s holdings in Knife River were worth $479,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Knife River during the fourth quarter worth $351,000. Norges Bank purchased a new stake in Knife River during the 4th quarter worth about $40,548,000. UBS Group AG boosted its position in shares of Knife River by 115.5% during the 4th quarter. UBS Group AG now owns 136,505 shares of the company’s stock worth $9,034,000 after acquiring an additional 73,147 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Knife River in the 4th quarter valued at about $261,000. Finally, Hudson Value Partners LLC raised its position in shares of Knife River by 24.4% during the 4th quarter. Hudson Value Partners LLC now owns 47,962 shares of the company’s stock worth $3,174,000 after acquiring an additional 9,418 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Stephens began coverage on Knife River in a report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Knife River Stock Performance

Shares of KNF stock opened at $90.76 on Monday. The stock’s 50-day moving average is $77.87 and its two-hundred day moving average is $75.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. Knife River Co. has a 1 year low of $46.51 and a 1 year high of $93.77. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.92 and a beta of 0.81.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm had revenue of $806.90 million for the quarter, compared to the consensus estimate of $803.81 million. During the same quarter last year, the business posted $1.00 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Knife River Co. will post 3.72 earnings per share for the current 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.