Knife River (KNF)
Mines aggregates and integrates them into concrete, asphalt and infrastructure contracting.
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Mines and sells aggregates, then feeds part of that base into ready-mix concrete, asphalt and contracting services. Three regional segments pair local materials with road and heavy-civil work, while Energy Services supplies liquid asphalt; public infrastructure funding, private construction demand and weather shape results.
Mines crushed stone, sand and gravel, and turns part of that aggregate base into ready-mix concrete, asphalt and contracting work for roads, bridges, airport runways and commercial sites. West, Mountain and Central run regional materials-and-construction operations across 15 states; Energy Services supplies liquid asphalt to internal and third-party customers.
Vertical integration links local reserves, plants, logistics and paving crews, allowing the same network to supply materials and execute projects. Growth comes from reserve development, plant improvements and acquisitions in mid-size markets.
Heavy materials are costly to transport, so operations and competition are local. Demand depends on public infrastructure budgets and private construction activity, while northern markets are seasonal and exposed to weather. Aggregate reserves require permits and reclamation, and results also depend on fuel, cement and liquid-asphalt costs, project bidding and execution.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Citigroup | Downgrade | Rating: — | |
| Sep 9, 2026 | Wells Fargo | Reiterate | Rating: —Target: $73 | Target: $62 |
| Sep 2, 2026 | JP Morgan | Downgrade | ||
| Aug 24, 2026 | D.A. Davidson | Target | Target: $105 | Target: $85 |
| Aug 5, 2026 | RBC Capital | Reiterate | Rating: —Target: $107 | Target: $103 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $40.7M · Total debt $1.67B · Total assets $4.18B · Shareholders' equity $1.61B
- Revenue
- $938.6M
- Operating income
- $81.1M
- Net income
- $43.9M
No dividends on record.
| Institutions | 97.90% | 55.57M shares | |
|---|---|---|---|
| 399 holders · as of Jun 30, 2026 | |||
| Insiders | 0.65% | 368.7K shares | |
| 15 holders · as of May 21, 2026 | |||
| Strategic holders | 10.39% | 5.90M shares | |
| 1 holder · as of Jul 7, 2023 | |||
| Adds to | 108.94% | ||
56.76M company shares as of Sep 8, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 108.94%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.84% | 7.29M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 10.39% | 5.90M | filed Jul 7, 2023 |
Price T Rowe Associates Inc /MD/Institution | 9.01% | 5.12M | as of Jun 30, 2026 |
Capital World InvestorsInstitution | 5.72% | 3.24M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.96% | 2.82M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- Vulcan Materials
National aggregates leader with asphalt and concrete overlap
- Martin Marietta
Aggregates-led peer across materials and paving services
- CRH
Scaled North American materials and road-solutions rival
- Amrize
North America platform from foundation to rooftop
- Granite Construction
Civil contractor with aggregates and asphalt pull-through
- Construction Partners
Asphalt paving consolidator expanding into Texas
- Cemex (ADR)
Global cement, ready-mix and aggregates competitor
- Eagle Materials
Cement-heavy peer with concrete and aggregates overlap
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Knife River | $54.75 | −1.20% | $3.15B | 22.6 | 17.9 | 1.0 | +12.6% |
| Vulcan Materials | $243.91 | −0.93% | $31.90B | 29.0 | 24.9 | 3.9 | +2.5% |
| Martin Marietta | $496.43 | −0.65% | $30.01B | 12.3 | 25.4 | 4.5 | +7.5% |
| CRH | $87.27 | +0.15% | $58.23B | — | — | — | +5.6% |
| Amrize | $38.85 | +0.66% | $21.36B | 17.7 | 15.1 | 1.8 | +8.5% |
| Granite Construction | $115.60 | −0.52% | $5.09B | — | 16.5 | 1.0 | +29.3% |
| Construction Partners | $94.40 | −0.07% | $5.34B | 37.2 | 26.1 | 1.5 | +28.3% |
| Cemex (ADR) | $10.03 | +0.05% | $14.54B | 6.3 | 11.0 | 0.9 | +1,975.1% |
| Eagle Materials | $181.04 | +1.06% | $5.50B | 14.2 | 13.9 | 2.4 | +2.6% |
| Median | 15.9 | 16.5 | 1.8 | +8.0% |