Knife River Co. (NYSE:KNF) Shares Sold by American International Group Inc.

American International Group Inc. lowered its position in shares of Knife River Co. (NYSE:KNF) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,318 shares of the company’s stock after selling 1,770 shares during the period. American International Group Inc. owned approximately 0.18% of Knife River worth $8,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Knife River by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after purchasing an additional 503,892 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Knife River by 16.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock worth $92,546,000 after acquiring an additional 199,389 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Knife River by 48.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock worth $76,138,000 after acquiring an additional 373,359 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Knife River by 122.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock worth $54,221,000 after acquiring an additional 450,574 shares in the last quarter. Finally, Norges Bank acquired a new position in Knife River in the fourth quarter valued at $40,548,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Up 2.7 %

Shares of KNF stock traded up $2.03 on Thursday, hitting $78.34. The stock had a trading volume of 150,454 shares, compared to its average volume of 392,924. The firm has a market capitalization of $4.43 billion and a price-to-earnings ratio of 24.62. The stock’s 50 day moving average is $71.95 and its 200-day moving average is $72.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.75. Knife River Co. has a 52-week low of $42.72 and a 52-week high of $83.78.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.04). Knife River had a return on equity of 14.65% and a net margin of 6.19%. The business had revenue of $329.60 million during the quarter, compared to the consensus estimate of $300.98 million. During the same quarter in the previous year, the business posted ($516.50) earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Knife River Co. will post 3.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stephens initiated coverage on shares of Knife River in a report on Tuesday, June 18th. They set an “overweight” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and a consensus price target of $77.67.

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.