Knife River Co. (NYSE:KNF) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its position in Knife River Co. (NYSE:KNF) by 96.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118 shares of the company’s stock after selling 29,985 shares during the period. Acadian Asset Management LLC’s holdings in Knife River were worth $78,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Advisor Group LLC lifted its stake in shares of Knife River by 8.5% in the 2nd quarter. Private Advisor Group LLC now owns 15,014 shares of the company’s stock valued at $1,053,000 after purchasing an additional 1,177 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of Knife River by 9.8% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 11,175 shares of the company’s stock valued at $784,000 after purchasing an additional 997 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Knife River by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 15,048 shares of the company’s stock valued at $1,055,000 after purchasing an additional 280 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Knife River by 21.2% in the 2nd quarter. Victory Capital Management Inc. now owns 16,477 shares of the company’s stock valued at $1,156,000 after purchasing an additional 2,878 shares in the last quarter. Finally, Convergence Investment Partners LLC lifted its stake in shares of Knife River by 115.9% in the 2nd quarter. Convergence Investment Partners LLC now owns 8,952 shares of the company’s stock valued at $628,000 after purchasing an additional 4,805 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Knife River Stock Performance

Knife River stock opened at $90.76 on Friday. The stock’s 50 day moving average price is $77.87 and its 200 day moving average price is $75.94. The firm has a market capitalization of $5.14 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.92 and a beta of 0.81. 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 one year low of $46.51 and a one year high of $93.77.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. During the same period in the prior year, the company posted $1.00 EPS. Knife River’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Knife River Co. will post 3.72 EPS 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.