Point72 Asset Management L.P. Sells 87,486 Shares of Knife River Co. (NYSE:KNF)

Point72 Asset Management L.P. trimmed its stake in Knife River Co. (NYSE:KNF) by 74.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 29,514 shares of the company’s stock after selling 87,486 shares during the quarter. Point72 Asset Management L.P.’s holdings in Knife River were worth $2,070,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Retirement Systems of Alabama grew its stake in Knife River by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock valued at $5,759,000 after purchasing an additional 185 shares during the last quarter. Oliver Luxxe Assets LLC raised its holdings in shares of Knife River by 1.2% during the first quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock valued at $1,418,000 after acquiring an additional 206 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Knife River by 1.9% in the second quarter. Arizona State Retirement System now owns 15,048 shares of the company’s stock valued at $1,055,000 after purchasing an additional 280 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Knife River by 0.3% in the first quarter. Kennedy Capital Management LLC now owns 109,821 shares of the company’s stock valued at $8,904,000 after purchasing an additional 299 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Knife River by 2.2% in the first quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock valued at $1,123,000 after purchasing an additional 300 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Stock Performance

Shares of KNF stock opened at $88.37 on Friday. The stock has a market capitalization of $5.00 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 2.17 and a beta of 0.81. Knife River Co. has a 52-week low of $46.51 and a 52-week high of $93.77. The stock’s 50-day moving average price is $79.87 and its 200 day moving average price is $76.74. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The company had revenue of $806.90 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $1.00 EPS. As a group, equities research analysts forecast that Knife River Co. will post 3.72 EPS for the current year.

Analysts Set New Price Targets

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