Kewaunee Scientific Corporation (NASDAQ:KEQU) Shares Sold by Minerva Advisors LLC

Key Points

• Minerva Advisors LLC decreased its stake in Kewaunee Scientific Corporation by 32.6%, selling 35,728 shares during the first quarter, leaving it with 73,765 shares valued at approximately $2.9 million.
• Other institutional investors made significant moves as well, with IFP Advisors Inc increasing its holdings by 61.5% and Bank of America Corp DE boosting their position by an astonishing 2,605.9% in the last quarter.
• Kewaunee Scientific's shares currently have a market capitalization of $161.60 million and reported earnings of $1.95 EPS for the last quarter.

Minerva Advisors LLC reduced its position in Kewaunee Scientific Corporation (NASDAQ:KEQU - Free Report) by 32.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 73,765 shares of the technology company's stock after selling 35,728 shares during the quarter. Kewaunee Scientific comprises about 1.8% of Minerva Advisors LLC's holdings, making the stock its 17th largest position. Minerva Advisors LLC owned approximately 2.58% of Kewaunee Scientific worth $2,905,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of Kewaunee Scientific by 61.5% during the 1st quarter. IFP Advisors Inc now owns 945 shares of the technology company's stock worth $37,000 after purchasing an additional 360 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Kewaunee Scientific by 42.2% during the 1st quarter. Ritholtz Wealth Management now owns 17,949 shares of the technology company's stock worth $707,000 after purchasing an additional 5,330 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Kewaunee Scientific by 2,605.9% during the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company's stock worth $28,000 after purchasing an additional 443 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Kewaunee Scientific during the 4th quarter worth $300,000. Finally, Marshall Wace LLP purchased a new stake in shares of Kewaunee Scientific during the 4th quarter worth $736,000. 32.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kewaunee Scientific

In related news, CFO Donald T. Gardner III sold 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $58.59, for a total value of $175,770.00. Following the sale, the chief financial officer directly owned 14,564 shares in the company, valued at $853,304.76. The trade was a 17.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.30% of the stock is owned by corporate insiders.

Kewaunee Scientific Price Performance

Shares of NASDAQ KEQU opened at $54.78 on Friday. The firm has a market capitalization of $161.60 million, a P/E ratio of 14.30 and a beta of 0.71. Kewaunee Scientific Corporation has a one year low of $30.33 and a one year high of $71.33. The company's fifty day moving average is $48.82 and its two-hundred day moving average is $47.35. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.59 and a current ratio of 2.20.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The technology company reported $1.95 EPS for the quarter. Kewaunee Scientific had a net margin of 4.74% and a return on equity of 26.02%. The business had revenue of $77.15 million for the quarter.

Analyst Ratings Changes

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

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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