Levin Capital Strategies L.P. Buys Shares of 8,000 Knife River Co. (NYSE:KNF)

Levin Capital Strategies L.P. bought a new stake in Knife River Co. (NYSE:KNF) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,000 shares of the company’s stock, valued at approximately $529,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in shares of Knife River during the fourth quarter valued at about $35,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Knife River during the third quarter valued at about $34,000. Planned Solutions Inc. bought a new stake in shares of Knife River during the fourth quarter valued at about $53,000. Clear Street Markets LLC bought a new stake in shares of Knife River during the third quarter valued at about $59,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Knife River during the third quarter valued at about $66,000. 80.11% of the stock is currently owned by institutional investors.

Knife River Price Performance

KNF traded up $1.70 during trading on Thursday, reaching $79.44. The company had a trading volume of 138,726 shares, compared to its average volume of 377,680. The firm’s 50-day simple moving average is $77.34 and its 200 day simple moving average is $66.96. Knife River Co. has a 12-month low of $33.67 and a 12-month high of $83.78. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53.

Knife River (NYSE:KNF) last released its earnings results on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The company had revenue of $646.90 million for the quarter, compared to analysts’ expectations of $566.47 million. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Knife River Co. will post 3.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KNF shares. Loop Capital started coverage on shares of Knife River in a research note on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective on the stock. Bank of America started coverage on Knife River in a report on Friday, January 5th. They set a “buy” rating and a $81.00 target price on the stock. Wolfe Research started coverage on Knife River in a report on Friday, March 8th. They set a “peer perform” rating on the stock. Finally, Oppenheimer lifted their target price on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

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.