Penn Capital Management Company LLC Acquires 35,495 Shares of Knife River Corporation $KNF

Penn Capital Management Company LLC boosted its stake in Knife River Corporation (NYSE:KNF – Free Report) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,479 shares of the company’s stock after acquiring an additional 35,495 shares during the period. Knife River accounts for approximately 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 25th biggest holding. Penn Capital Management Company LLC’s holdings in Knife River were worth $16,682,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KNF. CIBC Private Wealth Group LLC lifted its position in Knife River by 43.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,835 shares of the company’s stock valued at $218,000 after buying an additional 863 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Knife River during the 3rd quarter valued at about $469,000. Voss Capital LP bought a new stake in Knife River during the third quarter worth about $33,823,000. Castleark Management LLC purchased a new stake in Knife River in the third quarter worth about $3,962,000. Finally, Sittner & Nelson LLC increased its stake in shares of Knife River by 37.1% during the third quarter. Sittner & Nelson LLC now owns 5,545 shares of the company’s stock valued at $426,000 after purchasing an additional 1,500 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Price Performance

Shares of KNF opened at $83.06 on Wednesday. Knife River Corporation has a twelve month low of $58.72 and a twelve month high of $103.18. The company has a market capitalization of $4.71 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 1.82 and a beta of 0.27. The firm has a 50 day moving average of $80.51 and a 200 day moving average of $75.02. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70.

Knife River (NYSE:KNF – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The business had revenue of $755.06 million for the quarter, compared to analysts’ expectations of $726.60 million. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities research analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KNF. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research report on Thursday, January 22nd. Wall Street Zen raised Knife River from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stephens increased their target price on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Finally, DA Davidson raised their price target on Knife River from $95.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.43.

View Our Latest Stock Report on KNF

Knife River Company Profile

(Free Report)

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

Further Reading

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