BlackRock Amends Knife River Stake to 6.9% as of Dec 31, 2023
Ticker: KNF · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1955520
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment
TL;DR
**BlackRock still owns 6.9% of Knife River, showing continued institutional confidence.**
AI Summary
BlackRock Inc., a major investment firm, filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in Knife River Corp. As of December 31, 2023, BlackRock reported beneficial ownership of 4,000,000 shares of Knife River Corp's Common Stock, representing 6.9% of the company. This filing indicates BlackRock's continued significant, but passive, stake in Knife River, which is important for investors as large institutional holdings can influence stock stability and investor confidence.
Why It Matters
Large institutional ownership by firms like BlackRock can signal confidence in a company's long-term prospects and often provides a degree of stability to the stock price.
Risk Assessment
Risk Level: low — This filing indicates a stable, passive institutional ownership, which generally reduces volatility risk for the stock.
Analyst Insight
Investors should note BlackRock's continued significant, passive stake in Knife River Corp, which suggests institutional confidence without indicating any immediate strategic changes or activist intentions. This could contribute to stock stability.
Key Numbers
- 4,000,000 — Shares Beneficially Owned (This is the total number of Knife River Corp shares BlackRock Inc. reported owning as of December 31, 2023.)
- 6.9% — Percentage of Class (This represents BlackRock Inc.'s ownership percentage of Knife River Corp's Common Stock, indicating a significant institutional stake.)
- December 31, 2023 — Reporting Date (This is the specific date for which the ownership information in the filing is accurate, providing a clear snapshot of BlackRock's position.)
Key Players & Entities
- BlackRock Inc. (company) — the investment firm filing the SC 13G/A
- Knife River Corp (company) — the subject company in which BlackRock holds shares
- 4,000,000 shares (dollar_amount) — the number of shares beneficially owned by BlackRock
- 6.9% (dollar_amount) — the percentage of Knife River Corp's common stock owned by BlackRock
- December 31, 2023 (date) — the date as of which the ownership stake is reported
- January 23, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in Knife River Corp throughout 2024. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, which is filed by institutional investors (like BlackRock Inc.) who acquire beneficial ownership of more than 5% of a company's stock, but do so passively without intent to influence control. The '/A' indicates it's an amendment to a previously filed statement, updating the ownership information as of December 31, 2023.
Which entity filed this SC 13G/A and for which company?
This SC 13G/A was filed by BlackRock Inc. regarding its ownership in Knife River Corp. BlackRock Inc.'s Central Index Key (CIK) is 0001364742, and Knife River Corp's CIK is 0001955520.
What percentage of Knife River Corp's stock does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 6.9% of Knife River Corp's Common Stock, as stated in the filing.
What is the CUSIP number for Knife River Corp's Common Stock mentioned in the filing?
The CUSIP number for Knife River Corp's Common Stock is 498894104, as listed on the cover page of the Schedule 13G/A.
When was this amendment filed and what was the 'Date of Event Which Requires Filing'?
This amendment was filed on January 23, 2024. The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, indicating the date the reported ownership stake was accurate.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding Knife River Corp (KNF).