Point72 Asia Singapore Pte. Ltd. Makes New Investment in Knife River Co. (NYSE:KNF)

Point72 Asia Singapore Pte. Ltd. bought a new position in Knife River Co. (NYSE:KNF) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 616 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KNF. International Assets Investment Management LLC acquired a new position in Knife River in the 2nd quarter valued at about $39,000. TFO Wealth Partners LLC lifted its holdings in Knife River by 38,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after acquiring an additional 765 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Knife River in the second quarter worth approximately $96,000. Horan Capital Advisors LLC. acquired a new stake in Knife River during the first quarter worth $203,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Knife River in the first quarter valued at $206,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Knife River Price Performance

KNF stock opened at $89.39 on Tuesday. The business’s fifty day moving average price is $79.01 and its 200 day moving average price is $76.39. Knife River Co. has a 12-month low of $46.51 and a 12-month high of $93.77. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $5.06 billion, a PE ratio of 28.84, a P/E/G ratio of 2.17 and a beta of 0.81.

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