Renaissance Technologies LLC Has $12.98 Million Stake in Knife River Co. (NYSE:KNF)

Renaissance Technologies LLC grew its stake in Knife River Co. (NYSE:KNF) by 16.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,000 shares of the company’s stock after buying an additional 25,600 shares during the period. Renaissance Technologies LLC owned approximately 0.33% of Knife River worth $12,976,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. UBS Group AG lifted its holdings in Knife River by 115.5% in the 4th quarter. UBS Group AG now owns 136,505 shares of the company’s stock worth $9,034,000 after purchasing an additional 73,147 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Knife River in the first quarter worth $687,000. Swedbank AB bought a new stake in shares of Knife River during the 1st quarter worth $9,730,000. Congress Asset Management Co. MA acquired a new position in Knife River in the 1st quarter valued at $4,408,000. Finally, Lighthouse Investment Partners LLC bought a new position in Knife River in the 4th quarter worth $6,130,000. Institutional investors own 80.11% of the company’s stock.

Knife River Trading Down 0.8 %

Shares of Knife River stock opened at $90.76 on Monday. Knife River Co. has a 1 year low of $46.51 and a 1 year high of $93.77. The company’s fifty day simple moving average is $77.87 and its 200-day simple moving average is $75.94. The company 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. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last posted 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. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The company had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. During the same period last year, the business posted $1.00 EPS. The business’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 year.

Analysts Set New Price Targets

Separately, Stephens started coverage on Knife River in a research report on Tuesday, June 18th. They issued 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Knife River Company 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.