Minerva Advisors LLC Reduces Holdings in Kewaunee Scientific Corporation (NASDAQ:KEQU)

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 decreased its position in shares of Kewaunee Scientific Corporation (NASDAQ:KEQU - Free Report) by 32.6% during the first 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 period. Kewaunee Scientific comprises about 1.8% of Minerva Advisors LLC's holdings, making the stock its 17th largest holding. Minerva Advisors LLC owned about 2.58% of Kewaunee Scientific worth $2,905,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KEQU. Jane Street Group LLC bought a new position in Kewaunee Scientific in the fourth quarter worth approximately $300,000. Marshall Wace LLP acquired a new position in Kewaunee Scientific in the 4th quarter valued at about $736,000. American Century Companies Inc. boosted its holdings in shares of Kewaunee Scientific by 18.0% in the fourth quarter. American Century Companies Inc. now owns 34,293 shares of the technology company's stock valued at $2,122,000 after acquiring an additional 5,221 shares in the last quarter. IFP Advisors Inc boosted its holdings in Kewaunee Scientific by 61.5% during the first quarter. IFP Advisors Inc now owns 945 shares of the technology company's stock worth $37,000 after buying an additional 360 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Kewaunee Scientific by 3.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 28,008 shares of the technology company's stock valued at $1,733,000 after purchasing an additional 891 shares in the last quarter. 32.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Donald T. Gardner III sold 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $58.59, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.30% of the stock is currently owned by insiders.

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.

Kewaunee Scientific Stock Up 1.6%

NASDAQ KEQU traded up $0.85 during trading hours on Thursday, reaching $54.20. 382 shares of the company's stock were exchanged, compared to its average volume of 18,998. The company has a market capitalization of $159.88 million, a price-to-earnings ratio of 14.15 and a beta of 0.70. Kewaunee Scientific Corporation has a one year low of $30.33 and a one year high of $71.33. The company's 50-day moving average is $49.83 and its two-hundred day moving average is $47.31. 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 results on Wednesday, June 25th. The technology company reported $1.95 EPS for the quarter. Kewaunee Scientific had a return on equity of 26.02% and a net margin of 4.74%. The business had revenue of $77.15 million during the quarter.

Kewaunee Scientific Company Profile

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.