Knife River Co. (NYSE:KNF) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its position in Knife River Co. (NYSE:KNF) by 96.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,118 shares of the company’s stock after selling 29,985 shares during the quarter. Acadian Asset Management LLC’s holdings in Knife River were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Knife River by 10.0% in the 4th quarter. Principal Financial Group Inc. now owns 211,265 shares of the company’s stock valued at $13,982,000 after acquiring an additional 19,125 shares during the last quarter. UBS Group AG increased its holdings in shares of Knife River by 115.5% in the 4th quarter. UBS Group AG now owns 136,505 shares of the company’s stock valued at $9,034,000 after acquiring an additional 73,147 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Knife River in the 1st quarter valued at approximately $687,000. Swedbank AB bought a new stake in shares of Knife River in the 1st quarter valued at approximately $9,730,000. Finally, Congress Asset Management Co. MA bought a new position in Knife River during the 1st quarter worth $4,408,000. 80.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens started coverage on Knife River in a research note on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Knife River Stock Down 0.8 %

Shares of Knife River stock opened at $90.76 on Friday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 1.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. Knife River Co. has a 52-week low of $46.51 and a 52-week high of $93.77. The stock has a 50-day simple moving average of $77.87 and a 200-day simple moving average of $75.94.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. The firm had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. On average, equities research analysts expect that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

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.