Algert Global LLC Invests $379,000 in Knife River Co. (NYSE:KNF)

Algert Global LLC purchased a new stake in shares of Knife River Co. (NYSE:KNF) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,410 shares of the company’s stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KNF. Bayesian Capital Management LP purchased a new stake in shares of Knife River during the first quarter worth $687,000. Swedbank AB acquired a new stake in shares of Knife River in the first quarter valued at $9,730,000. Congress Asset Management Co. MA purchased a new position in Knife River in the first quarter valued at $4,408,000. Comerica Bank raised its position in Knife River by 59.2% in the 1st quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after purchasing an additional 15,848 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Knife River by 48.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after buying an additional 373,359 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analysts Set New Price Targets

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

Knife River Trading Down 1.3 %

NYSE KNF opened at $87.83 on Tuesday. The company has a market cap of $4.97 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a 50-day moving average of $80.20 and a 200-day moving average of $76.89. Knife River Co. has a 12 month low of $46.51 and a 12 month high of $93.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last released its earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The company had revenue of $806.90 million during the quarter, compared to analysts’ expectations of $803.81 million. During the same period in the prior year, the business posted $1.00 EPS. The business’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Knife River Co. will post 3.72 earnings per share 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.