Ashton Thomas Private Wealth LLC Trims Stock Position in Knife River Co. (NYSE:KNF)

Ashton Thomas Private Wealth LLC decreased its position in Knife River Co. (NYSE:KNF) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,781 shares of the company’s stock after selling 280 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Knife River were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KNF. GAMMA Investing LLC grew its position in Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after acquiring an additional 176 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Knife River in the 2nd quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Knife River during the 2nd quarter worth $43,000. Sittner & Nelson LLC increased its position in shares of Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after acquiring an additional 150 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Knife River in the 2nd quarter valued at approximately $96,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Performance

Shares of KNF opened at $94.71 on Friday. Knife River Co. has a 1 year low of $56.36 and a 1 year high of $103.33. The stock has a market capitalization of $5.36 billion, a PE ratio of 27.14, a PEG ratio of 2.59 and a beta of 0.74. 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 stock has a 50-day simple moving average of $90.28 and a 200-day simple moving average of $79.76.

Knife River (NYSE:KNF) last posted its earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the company earned $2.58 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts predict that Knife River Co. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. DA Davidson boosted their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Loop Capital cut their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Oppenheimer increased their price target 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

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.