Louisiana State Employees Retirement System Decreases Stock Holdings in Knife River Co. (NYSE:KNF)

Louisiana State Employees Retirement System trimmed its position in shares of Knife River Co. (NYSE:KNF) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,700 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Knife River were worth $1,403,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after acquiring an additional 224,373 shares in the last quarter. Hood River Capital Management LLC increased its holdings in Knife River by 5.3% in the 2nd quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after buying an additional 38,152 shares during the period. Federated Hermes Inc. boosted its position in Knife River by 37.5% in the 2nd 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. Shellback Capital LP boosted its position in Knife River by 28.3% in the 2nd quarter. Shellback Capital LP now owns 321,323 shares of the company’s stock worth $22,538,000 after purchasing an additional 70,801 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Knife River by 28.7% during the 2nd quarter. AQR Capital Management LLC now owns 207,342 shares of the company’s stock valued at $14,543,000 after buying an additional 46,187 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their price objective on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.60.

Knife River Trading Up 0.1 %

Shares of KNF stock opened at $97.45 on Friday. The business’s fifty day moving average price is $87.16 and its 200 day moving average price is $78.66. Knife River Co. has a 1-year low of $53.34 and a 1-year high of $99.54. The firm has a market capitalization of $5.52 billion, a PE ratio of 28.08, a P/E/G ratio of 2.44 and a beta of 0.82. 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 (NYSE:KNF) last released 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 for the quarter, compared to the consensus estimate of $803.81 million. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. As a group, sell-side analysts forecast that Knife River Co. will post 3.68 EPS for the current fiscal year.

Knife River Company 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.