Bangor Savings Bank Cuts Position in Knife River Co. (NYSE:KNF)

Bangor Savings Bank decreased its position in Knife River Co. (NYSE:KNF) by 8.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,927 shares of the company’s stock after selling 180 shares during the quarter. Bangor Savings Bank’s holdings in Knife River were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in Knife River in the 4th quarter worth approximately $35,000. DekaBank Deutsche Girozentrale bought a new position in shares of Knife River during the 3rd quarter valued at approximately $34,000. TFO Wealth Partners LLC increased its position in shares of Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after purchasing an additional 765 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of Knife River during the 4th quarter valued at approximately $53,000. Finally, Acadian Asset Management LLC bought a new position in shares of Knife River during the 3rd quarter valued at approximately $66,000. Institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

Shares of KNF stock opened at $68.07 on Monday. Knife River Co. has a twelve month low of $41.53 and a twelve month high of $83.78. The stock has a market capitalization of $3.85 billion and a price-to-earnings ratio of 21.96. The stock has a fifty day simple moving average of $73.97 and a two-hundred day simple moving average of $71.54. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The firm had revenue of $329.60 million during the quarter, compared to analysts’ expectations of $300.98 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. Knife River’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($516.50) earnings per share. On average, analysts predict that Knife River Co. will post 3.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wolfe Research assumed coverage on Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. Stephens assumed coverage on Knife River in a research report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 target price on the stock. Finally, Oppenheimer boosted their target price on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Knife River has an average rating of “Moderate Buy” and an average target price of $77.67.

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.