Kewaunee Scientific (NASDAQ:KEQU) Releases Earnings Results

Kewaunee Scientific (NASDAQ:KEQU) announced its quarterly earnings data on Wednesday. The technology company reported $0.28 earnings per share for the quarter, Zacks reports. The business had revenue of $69.40 million for the quarter. Kewaunee Scientific had a net margin of 3.85% and a return on equity of 18.32%.

Kewaunee Scientific Stock Up 0.6%

Kewaunee Scientific stock traded up $0.22 during mid-day trading on Friday, hitting $35.84. The company had a trading volume of 171 shares, compared to its average volume of 5,597. The company has a quick ratio of 1.71, a current ratio of 2.48 and a debt-to-equity ratio of 0.81. Kewaunee Scientific has a 1 year low of $30.33 and a 1 year high of $60.89. The business has a fifty day moving average of $39.84 and a 200 day moving average of $42.00. The stock has a market cap of $102.87 million, a price-to-earnings ratio of 9.64 and a beta of 0.56.

Insider Buying and Selling at Kewaunee Scientific

In other news, CEO Thomas David Hull III sold 2,177 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer owned 33,000 shares in the company, valued at approximately $1,237,500. The trade was a 6.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 4,719 shares of company stock worth $179,028. 13.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kewaunee Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in Kewaunee Scientific by 4.2% in the fourth quarter. State Street Corp now owns 10,034 shares of the technology company’s stock valued at $375,000 after acquiring an additional 400 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Kewaunee Scientific during the third quarter worth about $713,000. Punch & Associates Investment Management Inc. increased its position in shares of Kewaunee Scientific by 61.9% during 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 in the last quarter. First Trust Advisors LP increased its position in shares of Kewaunee Scientific by 3.4% during the second quarter. First Trust Advisors LP now owns 6,726 shares of the technology company’s stock worth $395,000 after purchasing an additional 222 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Kewaunee Scientific by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 24,013 shares of the technology company’s stock valued at $1,410,000 after purchasing an additional 223 shares during the last quarter. 32.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Kewaunee Scientific

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.