Palisade Asset Management LLC Cuts Position in Knife River Co. (NYSE:KNF)

Palisade Asset Management LLC decreased its holdings in Knife River Co. (NYSE:KNF) by 18.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,375 shares of the company’s stock after selling 750 shares during the quarter. Palisade Asset Management LLC’s holdings in Knife River were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KNF. Bayesian Capital Management LP purchased a new stake in shares of Knife River during the first quarter valued at approximately $687,000. Swedbank AB purchased a new stake in shares of Knife River during the first quarter valued at approximately $9,730,000. Comerica Bank raised its stake in shares of Knife River by 59.2% during the first quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after purchasing an additional 15,848 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Knife River by 311.5% during the second quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock valued at $1,009,000 after purchasing an additional 10,886 shares during the period. Finally, Ausbil Investment Management Ltd raised its stake in shares of Knife River by 599.5% during the third quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock valued at $1,750,000 after purchasing an additional 16,780 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KNF. Loop Capital dropped their price target on shares of 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 lifted their price target on shares of 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 lifted their price target on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Stock Performance

Knife River stock opened at $102.65 on Friday. The company has a market cap of $5.81 billion, a PE ratio of 29.41, a P/E/G ratio of 2.70 and a beta of 0.74. The company has a fifty day moving average price of $93.02 and a two-hundred day moving average price of $80.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. Knife River Co. has a 12 month low of $58.20 and a 12 month high of $103.33.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. Research analysts expect that Knife River Co. will post 3.57 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.