Baillie Gifford & Co. Makes New Investment in Knife River Corporation $KNF

Baillie Gifford & Co. purchased a new stake in Knife River Corporation (NYSE:KNF) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,198,771 shares of the company’s stock, valued at approximately $169,020,000.

A number of other large investors have also recently bought and sold shares of KNF. Country Trust Bank bought a new stake in shares of Knife River during the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. acquired a new stake in shares of Knife River during the 2nd quarter valued at $48,000. Quent Capital LLC bought a new stake in shares of Knife River during the third quarter worth about $47,000. Hilltop National Bank bought a new stake in Knife River during the 2nd quarter worth approximately $52,000. Finally, Huntington National Bank grew its stake in shares of Knife River by 35.5% in the second quarter. Huntington National Bank now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 184 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

NYSE KNF opened at $73.45 on Friday. The firm has a market cap of $4.16 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.25 and a beta of 0.47. The company’s 50 day moving average is $74.79 and its 200-day moving average is $75.99. Knife River Corporation has a 12-month low of $58.72 and a 12-month high of $106.89. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.07. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Sell-side analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KNF. Wells Fargo & Company reissued an “equal weight” rating and set a $81.00 target price (up previously from $75.00) on shares of Knife River in a research report on Tuesday, January 13th. Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. UBS Group raised shares of Knife River to an “overweight” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. initiated coverage on Knife River in a report on Thursday, December 4th. They issued a “neutral” rating and a $83.00 target price on the stock. Finally, Oppenheimer cut their price target on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.57.

Knife River Profile

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.