5 Best Construction Materials Stocks To Invest In Right Now

4. Knife River Corporation (NYSE:KNF)

Number of Hedge Fund Holders: 39

Knife River Corporation (NYSE:KNF) is a North Dakota-based provider of aggregates- led construction materials and contracting services. In the quarter, 39 hedge funds held positions in Knife River Corporation (NYSE:KNF) and their stakes amounted to $462.113 million.

On April 10, Loop Capital analyst Garik Shmois raised the price target on Knife River Corporation (NYSE:KNF) to $89 from $81 and kept a Buy rating on the shares.

Longleaf Partners stated the following regarding Knife River Corporation (NYSE:KNF) in its fourth quarter 2023 investor letter:

“Knife River Corporation (NYSE:KNF) – Construction materials and contracting company Knife River was a top contributor for the year and for the quarter. We initiated the position this year after it was spun out of MDU Resources Group, a utility holding company in North Dakota. We were familiar with the business from previous work done on MDU. Knife River was the business that originally attracted us to MDU, and the spin gave us the opportunity to buy the best business as a standalone stock at a discount when utility shareholders focused on a steady dividend dumped it. The business had not been optimized for a long time under MDU but still delivered solid mid-single digit revenue growth over the prior decade. We believe CEO Brian Gray and his plan to improve cash flow represents an improvement over the previous path. Knife River reported strong results in its first two quarters, beating expectations and company guidance.”