Levin Capital Strategies L.P. Makes New Investment in Knife River Co. (NYSE:KNF)

Levin Capital Strategies L.P. purchased a new position in shares of Knife River Co. (NYSE:KNF) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,000 shares of the company’s stock, valued at approximately $529,000.

Several other institutional investors have also recently made changes to their positions in the stock. Natixis Advisors L.P. acquired a new position in shares of Knife River during the 4th quarter worth approximately $684,000. Victory Capital Management Inc. increased its holdings in shares of Knife River by 26.7% during the 4th quarter. Victory Capital Management Inc. now owns 11,958 shares of the company’s stock worth $791,000 after acquiring an additional 2,517 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Knife River by 11.5% during the 4th quarter. Retirement Systems of Alabama now owns 70,847 shares of the company’s stock worth $4,689,000 after acquiring an additional 7,281 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Knife River by 7.5% during the 4th quarter. Russell Investments Group Ltd. now owns 43,500 shares of the company’s stock worth $2,879,000 after acquiring an additional 3,026 shares during the last quarter. Finally, Fractal Investments LLC grew its holdings in Knife River by 34.1% in the 4th quarter. Fractal Investments LLC now owns 11,400 shares of the company’s stock valued at $754,000 after buying an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Trading Up 2.2 %

Shares of NYSE:KNF traded up $1.70 during trading on Thursday, reaching $79.44. 138,726 shares of the company traded hands, compared to its average volume of 377,680. The company’s 50 day moving average is $77.34 and its two-hundred day moving average is $66.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.71 and a current ratio of 2.63. Knife River Co. has a 52 week low of $33.67 and a 52 week high of $83.78.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The business had revenue of $646.90 million during the quarter, compared to the consensus estimate of $566.47 million. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts predict that Knife River Co. will post 3.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KNF. Oppenheimer upped their price objective on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Bank of America began coverage on Knife River in a report on Friday, January 5th. They issued a “buy” rating and a $81.00 price objective on the stock. Wolfe Research began coverage on Knife River in a report on Friday, March 8th. They issued a “peer perform” rating on the stock. Finally, Loop Capital started coverage on Knife River in a report on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Knife River has a consensus rating of “Moderate Buy” and an average target price of $76.20.

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.