Kewaunee Scientific Corporation $KEQU Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Kewaunee Scientific Corporation by 125.7% during the first quarter, now owning 19,397 shares valued at approximately $764,000.
• Multiple institutional investors, including Jane Street Group LLC and American Century Companies Inc., significantly boosted their holdings in Kewaunee Scientific, indicating strong interest from the institutional investment community.
• Wall Street analysts have upgraded Kewaunee Scientific from a "hold" to a "buy" rating, signaling positive growth expectations for the company moving forward.

Goldman Sachs Group Inc. increased its position in Kewaunee Scientific Corporation (NASDAQ:KEQU - Free Report) by 125.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,397 shares of the technology company's stock after purchasing an additional 10,803 shares during the period. Goldman Sachs Group Inc. owned 0.68% of Kewaunee Scientific worth $764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in Kewaunee Scientific by 65.8% during the 1st quarter. Jane Street Group LLC now owns 8,052 shares of the technology company's stock worth $317,000 after buying an additional 3,196 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new stake in shares of Kewaunee Scientific during the 1st quarter valued at approximately $788,000. OMERS ADMINISTRATION Corp bought a new position in Kewaunee Scientific during the first quarter worth $284,000. American Century Companies Inc. boosted its holdings in Kewaunee Scientific by 43.4% in the first quarter. American Century Companies Inc. now owns 49,182 shares of the technology company's stock worth $1,937,000 after purchasing an additional 14,889 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Kewaunee Scientific by 61.5% in the first quarter. IFP Advisors Inc now owns 945 shares of the technology company's stock worth $37,000 after purchasing an additional 360 shares during the period. 32.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Kewaunee Scientific from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.

Insider Buying and Selling at Kewaunee Scientific

In related news, CEO Thomas David Hull III sold 773 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $45.34, for a total value of $35,047.82. Following the completion of the sale, the chief executive officer owned 43,294 shares of the company's stock, valued at $1,962,949.96. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donald T. Gardner III sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $58.59, for a total transaction of $175,770.00. Following the completion of the transaction, the chief financial officer owned 14,564 shares of the company's stock, valued at $853,304.76. This represents a 17.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,425 shares of company stock valued at $240,810. Company insiders own 13.30% of the company's stock.

Kewaunee Scientific Price Performance

NASDAQ KEQU opened at $43.48 on Wednesday. The company has a 50-day moving average price of $53.94 and a two-hundred day moving average price of $45.49. Kewaunee Scientific Corporation has a 52 week low of $30.33 and a 52 week high of $71.33. The stock has a market cap of $124.79 million, a price-to-earnings ratio of 10.53 and a beta of 0.75. The company has a current ratio of 2.32, a quick ratio of 1.63 and a debt-to-equity ratio of 0.88.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last issued its quarterly earnings data on Wednesday, September 10th. The technology company reported $1.10 earnings per share (EPS) for the quarter. Kewaunee Scientific had a return on equity of 25.65% and a net margin of 4.68%.The business had revenue of $71.10 million during the quarter.

About Kewaunee Scientific

Kewaunee Scientific Corporation designs, manufactures, and installs laboratory, healthcare, and technical furniture and infrastructure products. The company operates through two segments, Domestic and International. Its products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.

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