Kewaunee Scientific (NASDAQ:KEQU) Announces Quarterly Earnings Results

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

Kewaunee Scientific Price Performance

Shares of KEQU traded down $5.25 during trading hours on Thursday, reaching $35.74. The company had a trading volume of 19,634 shares, compared to its average volume of 4,621. The company has a current ratio of 2.48, a quick ratio of 1.71 and a debt-to-equity ratio of 0.81. Kewaunee Scientific has a 12-month low of $30.33 and a 12-month high of $60.89. The firm has a 50 day simple moving average of $39.87 and a 200-day simple moving average of $42.04. The company has a market capitalization of $102.56 million, a price-to-earnings ratio of 9.07 and a beta of 0.56.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Kewaunee Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Kewaunee Scientific presently has a consensus rating of “Hold”.

Insider Buying and Selling

In other Kewaunee Scientific news, CEO Thomas David Hull III sold 2,177 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $37.50, for a total transaction of $81,637.50. Following the transaction, the chief executive officer directly 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 filing with the SEC, which can be accessed through this link. Insiders have sold a total of 4,719 shares of company stock worth $179,028 over the last quarter. 13.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kewaunee Scientific

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its stake in Kewaunee Scientific by 2,605.9% in the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock valued at $28,000 after purchasing an additional 443 shares in the last quarter. US Bancorp DE grew its holdings in Kewaunee Scientific by 80.0% in the third quarter. US Bancorp DE now owns 900 shares of the technology company’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Kewaunee Scientific in the second quarter valued at $60,000. Barclays PLC purchased a new position in shares of Kewaunee Scientific in the fourth quarter valued at $92,000. Finally, Mink Brook Asset Management LLC acquired a new position in shares of Kewaunee Scientific during the 2nd quarter worth $370,000. Institutional investors and hedge funds 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.