Glenmede Trust Co. NA Increases Stake in Knife River Co. (NYSE:KNF)

Glenmede Trust Co. NA grew its position in Knife River Co. (NYSE:KNF) by 28.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,429 shares of the company’s stock after buying an additional 2,293 shares during the period. Glenmede Trust Co. NA’s holdings in Knife River were worth $932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Angeles Wealth Management LLC lifted its holdings in shares of Knife River by 1.5% during the third quarter. Angeles Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $760,000 after purchasing an additional 125 shares in the last quarter. Sittner & Nelson LLC raised its position in Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after buying an additional 150 shares during the last quarter. Covestor Ltd lifted its stake in Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock valued at $115,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after acquiring an additional 176 shares during the last quarter. Finally, LVW Advisors LLC grew its stake in shares of Knife River by 3.3% in the third quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after acquiring an additional 195 shares during the period. Institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Loop Capital dropped their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Oppenheimer increased their price objective on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, DA Davidson boosted their target price on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and an average target price of $93.67.

Knife River Trading Down 1.1 %

Shares of NYSE:KNF opened at $102.38 on Tuesday. Knife River Co. has a 12-month low of $60.04 and a 12-month high of $105.63. The company has a market cap of $5.80 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 2.78 and a beta of 0.74. The stock has a 50 day moving average of $94.67 and a 200 day moving average of $81.81. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. As a group, equities research analysts expect that Knife River Co. will post 3.57 EPS for the current year.

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.