Knife River Co. (NYSE:KNF) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its stake in shares of Knife River Co. (NYSE:KNF) by 18.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,375 shares of the company’s stock after selling 750 shares during the quarter. Palisade Asset Management LLC’s holdings in Knife River were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 176 shares in the last quarter. Huntington National Bank boosted its position in shares of Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock worth $31,000 after buying an additional 293 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Knife River in the 2nd quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knife River in the 2nd quarter worth about $43,000. Finally, Sittner & Nelson LLC boosted its position in shares of 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 in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Trading Up 2.1 %

Shares of KNF stock opened at $102.65 on Friday. The firm’s 50-day simple moving average is $93.02 and its 200-day simple moving average is $80.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91. Knife River Co. has a 1-year low of $58.20 and a 1-year high of $103.33. The firm has a market cap of $5.81 billion, a P/E ratio of 29.41, a PEG ratio of 2.70 and a beta of 0.74.

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

Analysts Set New Price Targets

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

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.