Advantage Alpha Capital Partners LP Reduces Stock Holdings in Knife River Co. (NYSE:KNF)

Advantage Alpha Capital Partners LP trimmed its stake in Knife River Co. (NYSE:KNF) by 22.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 81,443 shares of the company’s stock after selling 23,755 shares during the quarter. Knife River comprises 1.7% of Advantage Alpha Capital Partners LP’s investment portfolio, making the stock its 9th largest position. Advantage Alpha Capital Partners LP’s holdings in Knife River were worth $7,280,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after acquiring an additional 224,373 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after purchasing an additional 38,152 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Knife River by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after purchasing an additional 5,791 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Knife River by 10.7% during the 3rd quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock valued at $60,745,000 after purchasing an additional 65,930 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Knife River by 2.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock worth $59,017,000 after purchasing an additional 13,490 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Knife River Stock Up 1.4 %

Knife River stock opened at $104.06 on Tuesday. The business’s 50-day simple moving average is $93.35 and its two-hundred day simple moving average is $80.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The company has a market cap of $5.89 billion, a PE ratio of 29.82, a PEG ratio of 2.76 and a beta of 0.74. Knife River Co. has a fifty-two week low of $58.31 and a fifty-two week high of $105.44.

Knife River (NYSE:KNF) last issued its earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company earned $2.58 EPS. Knife River’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts anticipate that Knife River Co. will post 3.57 EPS for the current year.

Knife River Company 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.