Panagora Asset Management Inc. Boosts Position in Knife River Co. (NYSE:KNF)

Panagora Asset Management Inc. grew its holdings in shares of Knife River Co. (NYSE:KNF) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,625 shares of the company’s stock after buying an additional 3,124 shares during the quarter. Panagora Asset Management Inc. owned 0.10% of Knife River worth $3,972,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. TFO Wealth Partners LLC raised its holdings in shares of Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after buying an additional 765 shares during the period. Horan Capital Advisors LLC. acquired a new position in shares of Knife River during the first quarter worth $203,000. Koshinski Asset Management Inc. purchased a new position in shares of Knife River in the first quarter valued at $206,000. Grimes & Company Inc. acquired a new stake in Knife River during the 1st quarter valued at $216,000. Finally, Legacy Wealth Asset Management LLC purchased a new stake in Knife River during the 1st quarter worth $230,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens started coverage on shares of 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 issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Knife River Stock Up 1.6 %

NYSE KNF traded up $1.25 during trading hours on Friday, reaching $78.87. 191,549 shares of the company traded hands, compared to its average volume of 383,108. The company has a 50 day moving average of $74.59 and a two-hundred day moving average of $74.78. The stock has a market capitalization of $4.46 billion, a PE ratio of 25.06, a PEG ratio of 2.89 and a beta of 0.83. Knife River Co. has a 12 month low of $46.51 and a 12 month high of $83.78. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

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 the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The firm had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. During the same period in the previous year, the company earned $1.00 earnings per share. Knife River’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Knife River Co. will post 3.51 earnings per share 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.