Knife River Co. (NYSE:KNF) Stock Position Trimmed by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP cut its stake in Knife River Co. (NYSE:KNF) by 22.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,443 shares of the company’s stock after selling 23,755 shares during the quarter. Knife River comprises approximately 1.7% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 9th largest holding. Advantage Alpha Capital Partners LP owned approximately 0.14% of Knife River worth $7,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of KNF. GAMMA Investing LLC lifted its holdings in shares of Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after acquiring an additional 176 shares during the last quarter. Huntington National Bank raised its position in Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after purchasing an additional 293 shares during the period. International Assets Investment Management LLC bought a new stake in Knife River in the second quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Knife River during the second quarter valued at approximately $43,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Knife River during the third quarter valued at approximately $60,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KNF shares. Loop Capital decreased their price target on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. DA Davidson increased their target price on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer boosted their target price on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Knife River Stock Up 1.4 %

Shares of NYSE:KNF opened at $104.06 on Tuesday. The business’s 50 day moving average is $93.35 and its 200 day moving average is $80.89. The stock has a market cap of $5.89 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 2.76 and a beta of 0.74. Knife River Co. has a 52-week low of $58.31 and a 52-week high of $105.44. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last issued its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22). The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. Knife River’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 earnings per share. Sell-side analysts predict that Knife River Co. will post 3.57 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.