Knife River Co. (NYSE:KNF) Stake Reduced by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in shares of Knife River Co. (NYSE:KNF) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 58,703 shares of the company’s stock after selling 3,842 shares during the period. Jane Street Group LLC’s holdings in Knife River were worth $5,247,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Knife River by 129.4% during the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after buying an additional 176 shares in the last quarter. Huntington National Bank increased its stake in Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares during the period. International Assets Investment Management LLC purchased a new stake in Knife River in the 2nd quarter worth approximately $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Knife River during the 2nd quarter valued at $43,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Knife River during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Price Performance

NYSE KNF opened at $106.51 on Tuesday. Knife River Co. has a 1 year low of $61.50 and a 1 year high of $107.96. The company has a fifty day simple moving average of $97.36 and a 200 day simple moving average of $83.81. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.03 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.90 and a beta of 0.70.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Knife River Co. will post 3.49 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on KNF. Loop Capital reduced their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. DA Davidson boosted their price target on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer raised their price objective on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.33.

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.