Van ECK Associates Corp Buys Shares of 41,328 Knife River Co. (NYSE:KNF)

Van ECK Associates Corp purchased a new stake in shares of Knife River Co. (NYSE:KNF) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 41,328 shares of the company’s stock, valued at approximately $4,201,000. Van ECK Associates Corp owned approximately 0.07% of Knife River at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KNF. Huntington National Bank lifted its holdings in shares of Knife River by 586.0% during the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after acquiring an additional 293 shares during the last quarter. GAMMA Investing LLC lifted its stake in Knife River by 72.8% in the fourth quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after acquiring an additional 227 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Knife River during the third quarter valued at about $60,000. Sittner & Nelson LLC raised its position in shares of Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after acquiring an additional 150 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Knife River by 13.2% in the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock worth $115,000 after acquiring an additional 150 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stephens restated an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. DA Davidson boosted their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer raised their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Loop Capital cut their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.50.

Knife River Trading Down 1.9 %

KNF opened at $103.02 on Thursday. The firm has a market cap of $5.83 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.35 and a beta of 0.76. Knife River Co. has a 12 month low of $66.13 and a 12 month high of $108.83. The stock has a 50-day moving average of $102.30 and a 200 day moving average of $93.63. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $657.20 million during the quarter, compared to analyst estimates of $655.80 million. As a group, research analysts forecast that Knife River Co. will post 4.16 EPS 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.