MML Investors Services LLC Makes New Investment in Knife River Co. (NYSE:KNF)

MML Investors Services LLC acquired a new stake in shares of Knife River Co. (NYSE:KNF) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 2,848 shares of the company’s stock, valued at approximately $255,000.

Several other hedge funds also recently made changes to their positions in KNF. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in 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 worth $144,785,000 after buying an additional 224,373 shares in the last quarter. State Street Corp lifted its position in shares of Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after acquiring an additional 34,646 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Knife River by 5.3% during the 2nd quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after acquiring an additional 38,152 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after acquiring an additional 5,791 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Knife River by 10.7% during the third quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock worth $60,745,000 after purchasing an additional 65,930 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KNF shares. Oppenheimer increased their price target on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Loop Capital decreased their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, DA Davidson boosted their price target on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Knife River presently has an average rating of “Moderate Buy” and an average price target of $95.33.

Knife River Price Performance

Shares of KNF opened at $103.56 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.90 and a beta of 0.71. The business’s 50-day moving average is $99.37 and its 200-day moving average is $85.52. Knife River Co. has a fifty-two week low of $61.50 and a fifty-two week high of $108.39.

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