Cibc World Markets Corp Makes New Investment in Knife River Co. (NYSE:KNF)

Cibc World Markets Corp acquired a new position in shares of Knife River Co. (NYSE:KNF) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 5,316 shares of the company’s stock, valued at approximately $540,000.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares in the last quarter. GAMMA Investing LLC grew its holdings in Knife River by 72.8% during the 4th quarter. GAMMA Investing LLC now owns 539 shares of the company’s stock worth $55,000 after acquiring an additional 227 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Knife River during the 3rd quarter worth $60,000. Jones Financial Companies Lllp grew its holdings in Knife River by 40.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,660 shares of the company’s stock worth $169,000 after acquiring an additional 476 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Knife River during the 4th quarter worth $203,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Oppenheimer raised their price target on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company assumed coverage on shares of Knife River in a research report on Monday, March 10th. They issued an “overweight” rating and a $102.00 price target on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $110.40.

Knife River Trading Up 0.2 %

Shares of NYSE:KNF opened at $91.07 on Friday. The company has a market cap of $5.16 billion, a PE ratio of 25.73, a P/E/G ratio of 2.36 and a beta of 0.88. The company’s 50-day moving average price is $97.93 and its 200 day moving average price is $96.19. Knife River Co. has a fifty-two week low of $66.13 and a fifty-two week high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $657.20 million for the quarter, compared to the consensus estimate of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. Sell-side analysts anticipate that Knife River Co. will post 4.11 earnings per share 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.