Franklin Resources Inc. Grows Stock Holdings in Knife River Co. (NYSE:KNF)

Franklin Resources Inc. lifted its position in shares of Knife River Co. (NYSE:KNF) by 10.5% during the third quarter, Holdings Channel reports. The institutional investor owned 421,458 shares of the company’s stock after purchasing an additional 39,991 shares during the period. Franklin Resources Inc.’s holdings in Knife River were worth $38,201,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. abrdn plc purchased a new position in shares of Knife River in the third quarter valued at about $22,934,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in 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 worth $144,785,000 after purchasing an additional 224,373 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Knife River in the 3rd quarter worth approximately $10,267,000. Interval Partners LP purchased a new position in Knife River in the 2nd quarter worth approximately $7,614,000. Finally, Federated Hermes Inc. lifted its holdings in Knife River by 37.5% in the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after purchasing an additional 104,720 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

Knife River stock opened at $104.89 on Wednesday. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.90 and a beta of 0.70. The firm’s fifty day moving average is $98.07 and its 200 day moving average is $84.31. 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 Co. has a 52-week low of $61.50 and a 52-week high of $107.96.

Knife River (NYSE:KNF) last announced its earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations 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% 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 forecast that Knife River Co. will post 3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on KNF shares. DA Davidson boosted their target price on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Loop Capital decreased their price target on shares of 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 boosted their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.33.

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.