Knife River Co. (NYSE:KNF) Stake Lessened by Anchor Investment Management LLC

Anchor Investment Management LLC trimmed its stake in shares of Knife River Co. (NYSE:KNF) by 33.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the company’s stock after selling 750 shares during the quarter. Anchor Investment Management LLC’s holdings in Knife River were worth $105,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in shares of Knife River in the 1st quarter valued at about $687,000. Swedbank AB acquired a new stake in Knife River during the first quarter valued at approximately $9,730,000. Congress Asset Management Co. MA bought a new position in Knife River during the 1st quarter worth approximately $4,408,000. Lighthouse Investment Partners LLC acquired a new position in shares of Knife River in the 4th quarter worth approximately $6,130,000. Finally, Comerica Bank increased its holdings in shares of 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 acquiring an additional 15,848 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Knife River Stock Performance

Shares of KNF stock opened at $88.96 on Friday. The company has a market cap of $5.04 billion, a P/E ratio of 28.70, a PEG ratio of 2.17 and a beta of 0.82. The business has a 50 day moving average of $80.05 and a two-hundred day moving average of $76.83. Knife River Co. has a 52 week low of $46.51 and a 52 week high of $93.77. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last released its quarterly earnings data 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 business had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Knife River Co. will post 3.72 EPS for the current year.

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.