Teacher Retirement System of Texas Lowers Holdings in Knife River Co. (NYSE:KNF)

Teacher Retirement System of Texas trimmed its holdings in Knife River Co. (NYSE:KNF) by 38.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 91,633 shares of the company’s stock after selling 56,313 shares during the period. Teacher Retirement System of Texas owned approximately 0.16% of Knife River worth $9,314,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its position in Knife River by 1.8% in the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after acquiring an additional 34,646 shares during the period. Geode Capital Management LLC grew its position in Knife River by 2.0% in the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock worth $119,561,000 after acquiring an additional 26,198 shares during the period. Charles Schwab Investment Management Inc. grew its position in Knife River by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after acquiring an additional 5,791 shares during the period. Congress Asset Management Co. grew its position in Knife River by 2.5% in the fourth quarter. Congress Asset Management Co. now owns 696,245 shares of the company’s stock worth $70,766,000 after acquiring an additional 16,698 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in Knife River by 2.1% in the third quarter. Loomis Sayles & Co. L P now owns 660,225 shares of the company’s stock worth $59,017,000 after acquiring an additional 13,490 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Up 0.2 %

Shares of NYSE KNF opened at $91.07 on Friday. The stock has a market cap of $5.16 billion, a P/E ratio of 25.73, a PEG ratio of 2.36 and a beta of 0.88. The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. Knife River Co. has a 12-month low of $66.13 and a 12-month high of $108.83. The business’s fifty day simple moving average is $97.93 and its 200-day simple moving average is $96.19.

Knife River (NYSE:KNF) last announced 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 business had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $655.80 million. As a group, equities analysts predict that Knife River Co. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.