Golden State Wealth Management LLC Buys New Shares in Knife River Co. (NYSE:KNF)

Golden State Wealth Management LLC bought a new position in shares of Knife River Co. (NYSE:KNF) in the fourth quarter, Holdings Channel reports. The fund bought 3,758 shares of the company’s stock, valued at approximately $382,000.

Other hedge funds have also recently added to or reduced their stakes in the company. abrdn plc acquired a new position in shares of Knife River in the 3rd quarter worth $22,934,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Knife River during the third quarter valued at $10,267,000. Barclays PLC boosted its position in shares of Knife River by 156.2% in the 3rd quarter. Barclays PLC now owns 170,101 shares of the company’s stock valued at $15,205,000 after purchasing an additional 103,713 shares during the period. International Assets Investment Management LLC increased its stake in Knife River by 12,902.2% in the 3rd quarter. International Assets Investment Management LLC now owns 71,512 shares of the company’s stock worth $6,392,000 after purchasing an additional 70,962 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in Knife River by 10.7% during the 3rd quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock worth $60,745,000 after buying an additional 65,930 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF opened at $102.75 on Friday. The company has a market capitalization of $5.82 billion, a PE ratio of 29.44, a PEG ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The company’s 50 day moving average price is $102.65 and its 200 day moving average price is $92.05. Knife River Co. has a 52 week low of $65.67 and a 52 week high of $108.83.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNF. Oppenheimer lifted their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. DA Davidson boosted their target price on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Loop Capital reduced their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.75.

Knife River 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.