Knife River Co. (NYSE:KNF) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC decreased its holdings in Knife River Co. (NYSE:KNF) by 33.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,500 shares of the company’s stock after selling 750 shares during the quarter. Anchor Investment Management LLC’s holdings in Knife River were worth $105,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Retirement Systems of Alabama grew its position in Knife River by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock valued at $5,759,000 after buying an additional 185 shares in the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of Knife River by 1.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock worth $1,418,000 after acquiring an additional 206 shares during the period. Arizona State Retirement System lifted its stake in shares of Knife River by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 15,048 shares of the company’s stock worth $1,055,000 after acquiring an additional 280 shares during the period. Kennedy Capital Management LLC boosted 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 acquiring an additional 299 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of Knife River by 2.2% during the first quarter. State of Michigan Retirement System now owns 13,855 shares of the company’s stock valued at $1,123,000 after acquiring an additional 300 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Stock Performance

NYSE:KNF opened at $88.96 on Friday. The company has a 50-day moving average of $80.05 and a 200-day moving average of $76.83. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. Knife River Co. has a twelve month low of $46.51 and a twelve month high of $93.77.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The firm had revenue of $806.90 million during the quarter, compared to analysts’ expectations of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. Analysts forecast that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.