First PREMIER Bank Decreases Stock Holdings in Knife River Co. (NYSE:KNF)

First PREMIER Bank trimmed its position in Knife River Co. (NYSE:KNF) by 25.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,512 shares of the company’s stock after selling 837 shares during the quarter. First PREMIER Bank’s holdings in Knife River were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the period. International Assets Investment Management LLC purchased a new position in Knife River during the 2nd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Knife River during the 2nd quarter valued at $43,000. DekaBank Deutsche Girozentrale purchased a new position in Knife River during the 2nd quarter valued at $96,000. Finally, Horan Capital Advisors LLC. purchased a new position in Knife River during the 1st quarter valued at $203,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stephens initiated coverage on shares of Knife River in a research report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price objective 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Knife River Stock Up 0.9 %

Shares of Knife River stock opened at $88.95 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. The company has a 50-day moving average of $80.38 and a 200 day moving average of $76.96. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 2.17 and a beta of 0.82. Knife River Co. has a 1 year low of $46.51 and a 1 year high of $93.77.

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