Arcadia Investment Management Corp MI Grows Stock Position in Knife River Co. (NYSE:KNF)

Arcadia Investment Management Corp MI raised its stake in shares of Knife River Co. (NYSE:KNF) by 2.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,403 shares of the company’s stock after buying an additional 228 shares during the period. Arcadia Investment Management Corp MI’s holdings in Knife River were worth $1,019,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KNF. GAMMA Investing LLC raised its holdings in Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares during the period. International Assets Investment Management LLC acquired a new position in Knife River in the 2nd quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Knife River in the 2nd quarter worth about $43,000. DekaBank Deutsche Girozentrale acquired a new position in Knife River in the 2nd quarter worth about $96,000. Finally, Greenleaf Trust acquired a new position in Knife River in the 3rd quarter worth about $214,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer upped their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Knife River currently has an average rating of “Moderate Buy” and a consensus price target of $86.60.

Knife River Price Performance

Shares of Knife River stock opened at $97.47 on Friday. The business has a 50 day simple moving average of $87.16 and a two-hundred day simple moving average of $78.66. Knife River Co. has a 12 month low of $53.34 and a 12 month high of $99.54. The stock has a market capitalization of $5.52 billion, a P/E ratio of 28.09, a PEG ratio of 2.40 and a beta of 0.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business had revenue of $806.90 million during the quarter, compared to analysts’ expectations of $803.81 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts predict that Knife River Co. will post 3.68 EPS for the current fiscal year.

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.