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

Teacher Retirement System of Texas decreased its position in shares of Knife River Co. (NYSE:KNF) by 38.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 91,633 shares of the company’s stock after selling 56,313 shares during the quarter. Teacher Retirement System of Texas’ holdings in Knife River were worth $9,314,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KNF. Raymond James Financial Inc. purchased a new position in shares of Knife River during the fourth quarter worth about $14,600,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Knife River during the third quarter worth about $10,267,000. Barclays PLC grew its holdings in shares of Knife River by 156.2% during the third quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after purchasing an additional 103,713 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Knife River by 31.2% during the third quarter. JPMorgan Chase & Co. now owns 209,136 shares of the company’s stock worth $18,695,000 after purchasing an additional 49,785 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Knife River during the fourth quarter worth about $4,201,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Knife River Price Performance

Shares of KNF opened at $91.07 on Friday. Knife River Co. has a twelve month low of $66.13 and a twelve month high of $108.83. The stock’s 50 day moving average is $97.93 and its two-hundred day moving average is $96.19. The firm has a market capitalization of $5.16 billion, a PE ratio of 25.73, a P/E/G 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 (NYSE:KNF) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The company had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. Research analysts anticipate that Knife River Co. will post 4.11 earnings per share for the current year.

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.