Alberta Investment Management Corp Buys Shares of 32,786 Knife River Co. (NYSE:KNF)

Alberta Investment Management Corp bought a new stake in Knife River Co. (NYSE:KNF) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 32,786 shares of the company’s stock, valued at approximately $3,332,000.

A number of other large investors have also recently bought and sold shares of the stock. Huntington National Bank raised its holdings in shares of Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after acquiring an additional 293 shares during the last quarter. GAMMA Investing LLC increased its position in Knife River by 72.8% during the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after purchasing an additional 227 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Knife River in the 3rd quarter valued at about $60,000. Sittner & Nelson LLC lifted its holdings in Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after purchasing an additional 150 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Knife River by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock worth $115,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KNF. Loop Capital cut their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Oppenheimer raised their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, DA Davidson upped their target price on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.50.

Knife River Stock Performance

Shares of KNF stock opened at $101.49 on Friday. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.76. The company has a 50 day moving average price of $102.22 and a 200 day moving average price of $93.68. Knife River Co. has a one year low of $66.13 and a one year high of $108.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67.

Knife River (NYSE:KNF) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. Sell-side analysts anticipate that Knife River Co. will post 4.11 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.