Precedent Wealth Partners LLC Purchases Shares of 3,543 Knife River Co. (NYSE:KNF)

Precedent Wealth Partners LLC acquired a new position in shares of Knife River Co. (NYSE:KNF) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,543 shares of the company’s stock, valued at approximately $317,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Knife River by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after purchasing an additional 503,892 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Knife River by 12.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after buying an additional 224,373 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock valued at $53,377,000 after buying an additional 38,152 shares in the last quarter. Federated Hermes Inc. increased its holdings in Knife River by 37.5% during the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after buying an additional 104,720 shares during the last quarter. Finally, Shellback Capital LP raised its position in Knife River by 28.3% during the second quarter. Shellback Capital LP now owns 321,323 shares of the company’s stock worth $22,538,000 after acquiring an additional 70,801 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF opened at $93.44 on Friday. The company has a market cap of $5.29 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The firm has a 50-day moving average of $83.16 and a 200-day moving average of $77.61. Knife River Co. has a one year low of $46.51 and a one year high of $95.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, topping 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 analysts’ expectations of $803.81 million. During the same quarter last year, the company posted $1.00 earnings per share. Knife River’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Knife River Co. will post 3.72 earnings per share 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.