Knife River Co. (NYSE:KNF) Shares Purchased by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lifted its holdings in Knife River Co. (NYSE:KNF) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,403 shares of the company’s stock after purchasing an additional 228 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Knife River were worth $1,019,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bayesian Capital Management LP acquired a new stake in shares of Knife River in the 1st quarter worth $687,000. Swedbank AB acquired a new stake in shares of Knife River in the 1st quarter worth $9,730,000. Comerica Bank boosted its position in shares of Knife River by 59.2% in the 1st quarter. Comerica Bank now owns 42,635 shares of the company’s stock worth $3,457,000 after purchasing an additional 15,848 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Knife River by 34.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 31,051 shares of the company’s stock worth $2,518,000 after purchasing an additional 7,988 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Knife River by 311.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock worth $1,009,000 after purchasing an additional 10,886 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lifted their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.60.

Knife River Stock Performance

Shares of KNF opened at $97.47 on Friday. The stock has a 50-day moving average of $87.16 and a two-hundred day moving average of $78.66. Knife River Co. has a one year low of $53.34 and a one year high of $99.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. The stock has a market cap of $5.52 billion, a P/E ratio of 28.09, a P/E/G ratio of 2.40 and a beta of 0.74.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The business had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. As a group, research analysts predict that Knife River Co. will post 3.68 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.