MML Investors Services LLC Takes Position in Knife River Co. (NYSE:KNF)

MML Investors Services LLC acquired a new position in shares of Knife River Co. (NYSE:KNF) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,848 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after purchasing an additional 224,373 shares during the period. State Street Corp raised its stake in Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after acquiring an additional 34,646 shares during the period. Hood River Capital Management LLC lifted its holdings in Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after acquiring an additional 38,152 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Knife River by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after acquiring an additional 5,791 shares during the period. Finally, Congress Asset Management Co. grew its holdings in shares of Knife River by 10.7% during the third quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock valued at $60,745,000 after purchasing an additional 65,930 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on KNF shares. DA Davidson raised their price target on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Loop Capital cut their target price on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Oppenheimer increased their price objective on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and an average price target of $95.33.

Knife River Price Performance

Shares of KNF opened at $103.56 on Thursday. Knife River Co. has a one year low of $61.50 and a one year high of $108.39. The stock’s fifty day moving average is $99.37 and its 200-day moving average is $85.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 2.90 and a beta of 0.71.

Knife River (NYSE:KNF) last released its earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. Equities analysts anticipate that Knife River Co. will post 3.49 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.