Starboard Builds Significant Stake in Knife River, Sources Say
KNF is trading near its 52-week low of $50.665 (1.5% above the low) on elevated volume (2.4× avg).
Summary
Activist investor Starboard Value has taken a significant stake in Knife River, according to sources cited by WSJ. Starboard plans to push Knife River to improve margins or explore a sale. The stock is trading near its 52-week low after a Q2 that beat on revenue but missed on EBITDA, with widening net losses. This follows the September investor presentation that quantified Q2 headwinds and set 2H26 margin guidance. Knife River shares gained on the WSJ report of Starboard building a stake and pushing to explore a sale.
At the time of this announcement, KNF was trading at $51.43 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $50.67 to $96.28. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.