Northwestern Mutual Wealth Management Co. Trims Stock Holdings in Knife River Co. (NYSE:KNF)

Northwestern Mutual Wealth Management Co. cut its holdings in shares of Knife River Co. (NYSE:KNF) by 14.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,199 shares of the company’s stock after selling 202 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Knife River were worth $84,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KNF. Vanguard Group Inc. increased its stake in shares of Knife River by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock worth $400,004,000 after buying an additional 503,892 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Knife River by 12.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after purchasing an additional 224,373 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Knife River by 122.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock valued at $54,221,000 after purchasing an additional 450,574 shares in the last quarter. Hood River Capital Management LLC lifted its position in shares of Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after purchasing an additional 38,152 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Knife River by 37.5% in the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock worth $26,949,000 after purchasing an additional 104,720 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Trading Up 2.5 %

NYSE KNF opened at $89.69 on Friday. The firm has a market capitalization of $5.08 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. Knife River Co. has a one year low of $46.51 and a one year high of $93.77. The company has a 50-day simple moving average of $80.78 and a 200-day simple moving average of $77.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51.

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

Wall Street Analyst Weigh In

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 on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.60.

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.