Northern Trust Corp Lowers Position in Kewaunee Scientific Corporation $KEQU

Key Points

• Northern Trust Corp sold 6,252 shares of Kewaunee Scientific Corporation, reducing its stake by 2.2%, leaving it with 272,700 shares valued at approximately $10.74 million.
• Institutional ownership of Kewaunee Scientific now stands at 32.69%, with various investors increasing their positions in recent quarters, including American Century Companies which boosted its holdings by 43.4%.
• Kewaunee Scientific recently reported earnings of $1.95 per share with revenues of $77.15 million, and its stock has been upgraded from a "hold" to a "buy" rating by Wall Street analysts.

Northern Trust Corp lessened its position in Kewaunee Scientific Corporation (NASDAQ:KEQU - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 272,700 shares of the technology company's stock after selling 6,252 shares during the period. Northern Trust Corp owned approximately 9.55% of Kewaunee Scientific worth $10,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KEQU. American Century Companies Inc. lifted its stake in shares of Kewaunee Scientific by 43.4% in the first quarter. American Century Companies Inc. now owns 49,182 shares of the technology company's stock valued at $1,937,000 after purchasing an additional 14,889 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Kewaunee Scientific by 42.2% in the first quarter. Ritholtz Wealth Management now owns 17,949 shares of the technology company's stock valued at $707,000 after purchasing an additional 5,330 shares during the period. Jane Street Group LLC acquired a new stake in shares of Kewaunee Scientific in the fourth quarter valued at about $300,000. Bank of America Corp DE lifted its stake in shares of Kewaunee Scientific by 2,605.9% in the fourth 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 during the period. Finally, IFP Advisors Inc lifted its stake in shares of Kewaunee Scientific by 61.5% in the first quarter. IFP Advisors Inc now owns 945 shares of the technology company's stock valued at $37,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 32.69% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Kewaunee Scientific

In other news, CFO Donald T. Gardner III sold 3,000 shares of Kewaunee Scientific 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.30% of the stock is currently owned by company insiders.

Kewaunee Scientific Trading Up 1.9%

Shares of NASDAQ KEQU traded up $1.01 during midday trading on Wednesday, reaching $54.69. 24,336 shares of the stock were exchanged, compared to its average volume of 5,991. The company has a market capitalization of $161.34 million, a P/E ratio of 14.28 and a beta of 0.75. Kewaunee Scientific Corporation has a 52-week low of $30.33 and a 52-week high of $71.33. The company has a current ratio of 2.20, a quick ratio of 1.59 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $56.50 and a 200-day moving average price of $46.06.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last issued its quarterly earnings results on Wednesday, September 10th. The technology company reported $1.10 EPS for the quarter. Kewaunee Scientific had a net margin of 4.74% and a return on equity of 26.02%.

Kewaunee Scientific 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.