Knife River Co. (NYSE:KNF) Shares Bought by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd boosted its position in Knife River Co. (NYSE:KNF) by 599.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,579 shares of the company’s stock after buying an additional 16,780 shares during the period. Ausbil Investment Management Ltd’s holdings in Knife River were worth $1,750,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KNF. GAMMA Investing LLC lifted its stake in shares of Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Knife River by 0.3% in the first quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock worth $5,759,000 after purchasing an additional 185 shares during the period. LVW Advisors LLC raised its stake in Knife River by 3.3% during the third quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after acquiring an additional 195 shares during the period. Oliver Luxxe Assets LLC lifted its stake in Knife River by 1.2% in the first quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock valued at $1,418,000 after buying an additional 206 shares during the last quarter. Finally, Patten Group Inc. grew its position in Knife River by 2.4% in the 3rd quarter. Patten Group Inc. now owns 9,881 shares of the company’s stock worth $883,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and a consensus target price of $86.60.

Knife River Price Performance

KNF traded down $0.53 during trading on Thursday, hitting $90.97. The company’s stock had a trading volume of 33,513 shares, compared to its average volume of 378,201. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The firm’s 50 day moving average price is $84.36 and its two-hundred day moving average price is $77.90. Knife River Co. has a 12 month low of $46.51 and a 12 month high of $95.85.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The business had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. During the same quarter last year, the business posted $1.00 earnings per share. Knife River’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

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.