Freemont Management S.A. Sells 88,200 Shares of Knife River Corporation $KNF

Freemont Management S.A. decreased its holdings in Knife River Corporation (NYSE:KNF) by 88.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,800 shares of the company’s stock after selling 88,200 shares during the period. Freemont Management S.A.’s holdings in Knife River were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KNF. Cornerstone Investment Partners LLC increased its stake in Knife River by 5.8% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company’s stock worth $226,000 after buying an additional 161 shares during the period. Advisors Asset Management Inc. grew its stake in Knife River by 10.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 40,356 shares of the company’s stock worth $3,102,000 after acquiring an additional 3,780 shares in the last quarter. Meixler Investment Management Ltd. bought a new position in Knife River in the 3rd quarter worth about $1,609,000. Diamond Hill Capital Management Inc. increased its position in shares of Knife River by 158.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 220,512 shares of the company’s stock worth $16,951,000 after acquiring an additional 135,194 shares during the period. Finally, Carlson Capital L.P. raised its stake in shares of Knife River by 266.7% during the third quarter. Carlson Capital L.P. now owns 11,000 shares of the company’s stock valued at $846,000 after acquiring an additional 8,000 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Stock Performance

KNF stock opened at $81.45 on Friday. Knife River Corporation has a one year low of $58.72 and a one year high of $105.99. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.35 and a beta of 0.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. The firm has a 50-day simple moving average of $75.40 and a two-hundred day simple moving average of $75.45.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KNF shares. Wells Fargo & Company dropped their price objective on Knife River from $81.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 29th. Wall Street Zen upgraded Knife River from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. B. Riley Financial started coverage on shares of Knife River in a report on Thursday, January 15th. They set a “buy” rating and a $92.00 target price on the stock. Finally, UBS Group upgraded shares of Knife River to an “overweight” rating in a report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.71.

About Knife River

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.