American Century Companies Inc. Buys 819,439 Shares of Knife River Co. (NYSE:KNF)

American Century Companies Inc. increased its position in shares of Knife River Co. (NYSE:KNF) by 1,200.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 887,680 shares of the company’s stock after purchasing an additional 819,439 shares during the quarter. American Century Companies Inc. owned 1.57% of Knife River worth $90,224,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of KNF. Franklin Resources Inc. raised its position in shares of Knife River by 10.5% in the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock valued at $38,201,000 after buying an additional 39,991 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Knife River by 34.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 51,359 shares of the company’s stock valued at $5,220,000 after acquiring an additional 13,199 shares during the last quarter. Cerity Partners LLC raised its position in Knife River by 24.4% during the third quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock valued at $2,278,000 after purchasing an additional 5,004 shares in the last quarter. State Street Corp lifted its stake in Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after purchasing an additional 34,646 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after purchasing an additional 5,791 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KNF has been the subject of a number of research analyst reports. Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday, February 14th. Oppenheimer increased their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company began coverage on shares of Knife River in a report on Monday, March 10th. They set an “overweight” rating and a $102.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $110.40.

Knife River Price Performance

Shares of KNF opened at $96.91 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The stock has a market cap of $5.49 billion, a PE ratio of 27.37, a PEG ratio of 2.36 and a beta of 0.88. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83. The business has a 50-day simple moving average of $97.96 and a two-hundred day simple moving average of $96.49.

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

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.