Kewaunee Scientific (NASDAQ:KEQU) Announces Quarterly Earnings Results

Kewaunee Scientific (NASDAQ:KEQU) released its quarterly earnings results on Wednesday. The technology company reported $0.28 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $69.40 million during the quarter. Kewaunee Scientific had a return on equity of 22.39% and a net margin of 4.11%.

Kewaunee Scientific Price Performance

Shares of NASDAQ:KEQU traded down $5.11 during trading on Thursday, hitting $35.87. 26,944 shares of the company’s stock were exchanged, compared to its average volume of 5,077. The company has a market cap of $102.94 million, a price-to-earnings ratio of 9.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.48 and a quick ratio of 1.71. Kewaunee Scientific has a 52-week low of $30.33 and a 52-week high of $60.89. The business’s 50-day simple moving average is $39.87 and its 200 day simple moving average is $42.04.

Analyst Ratings Changes

Separately, Wall Street Zen cut Kewaunee Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Insider Buying and Selling at Kewaunee Scientific

In related news, CEO Thomas David Hull III sold 2,177 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $37.50, for a total transaction of $81,637.50. Following the completion of the transaction, the chief executive officer owned 33,000 shares in the company, valued at approximately $1,237,500. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 4,719 shares of company stock worth $179,028 in the last three months. 13.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. increased its holdings in shares of Kewaunee Scientific by 61.9% in the third quarter. Punch & Associates Investment Management Inc. now owns 70,085 shares of the technology company’s stock worth $2,989,000 after purchasing an additional 26,785 shares during the last quarter. Geode Capital Management LLC increased its position in Kewaunee Scientific by 0.9% in the second quarter. Geode Capital Management LLC now owns 24,013 shares of the technology company’s stock worth $1,410,000 after purchasing an additional 223 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Kewaunee Scientific by 125.7% during the first quarter. Goldman Sachs Group Inc. now owns 19,397 shares of the technology company’s stock valued at $764,000 after purchasing an additional 10,803 shares in the last quarter. Susquehanna International Group LLP bought a new position in Kewaunee Scientific during the third quarter valued at $713,000. Finally, State Street Corp lifted its position in Kewaunee Scientific by 4.2% during the fourth quarter. State Street Corp now owns 10,034 shares of the technology company’s stock valued at $375,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 32.69% of the company’s stock.

Kewaunee Scientific Company Profile

Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems.

The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia.