RIA Advisory Group LLC Makes New Investment in Knife River Co. (NYSE:KNF)

RIA Advisory Group LLC bought a new position in Knife River Co. (NYSE:KNF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,384 shares of the company’s stock, valued at approximately $302,000.

Other institutional investors have also made changes to their positions in the company. Royce & Associates LP acquired a new stake in Knife River during the 3rd quarter valued at $1,028,000. Huntington National Bank lifted its stake 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 acquiring an additional 293 shares in the last quarter. KBC Group NV boosted its position in Knife River by 23.1% during the 3rd quarter. KBC Group NV now owns 1,763 shares of the company’s stock worth $158,000 after acquiring an additional 331 shares during the period. Covestor Ltd grew its stake in Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock valued at $115,000 after acquiring an additional 150 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in shares of Knife River by 26.9% in the 3rd quarter. Atria Investments Inc now owns 5,258 shares of the company’s stock valued at $470,000 after purchasing an additional 1,116 shares during the period. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Down 0.4 %

Shares of NYSE KNF traded down $0.42 during mid-day trading on Friday, reaching $94.25. 218,749 shares of the company traded hands, compared to its average volume of 384,344. The company’s fifty day moving average is $90.67 and its two-hundred day moving average is $79.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. Knife River Co. has a fifty-two week low of $56.36 and a fifty-two week high of $103.33. The stock has a market cap of $5.34 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74.

Knife River (NYSE:KNF) last announced 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. On average, analysts expect that Knife River Co. will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KNF shares. Oppenheimer upped their price objective 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. DA Davidson increased their price objective on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Loop Capital lowered their target price on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.67.

About Knife River

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.