Punch & Associates Investment Management Inc. Invests $788,000 in Kewaunee Scientific Corporation $KEQU

Key Points

• Punch & Associates Investment Management Inc. has made a significant investment of $788,000 in Kewaunee Scientific Corporation, acquiring 20,000 shares during the first quarter of the year.
• Institutional investors now hold approximately 32.69% of Kewaunee Scientific's stock, with notable increases in positions by various hedge funds, including a 2605.9% growth by Bank of America Corp DE.
• Kewaunee Scientific reported a net margin of 4.74% and earnings of $1.95 per share in its latest earnings release, highlighting the company's financial performance.

Punch & Associates Investment Management Inc. acquired a new position in shares of Kewaunee Scientific Corporation (NASDAQ:KEQU - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the technology company's stock, valued at approximately $788,000. Punch & Associates Investment Management Inc. owned approximately 0.70% of Kewaunee Scientific as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KEQU. Bank of America Corp DE grew its position in shares of Kewaunee Scientific by 2,605.9% during the fourth quarter. Bank of America Corp DE now owns 460 shares of the technology company's stock worth $28,000 after buying an additional 443 shares in the last quarter. IFP Advisors Inc lifted its stake 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 purchasing an additional 360 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Kewaunee Scientific during the first quarter worth approximately $284,000. Jane Street Group LLC purchased a new stake in Kewaunee Scientific during the fourth quarter worth approximately $300,000. Finally, Ritholtz Wealth Management lifted its stake in Kewaunee Scientific by 42.2% during the first 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 during the last quarter. 32.69% of the stock is owned by institutional investors and hedge funds.

Kewaunee Scientific Price Performance

KEQU stock opened at $53.73 on Friday. The business has a 50 day moving average price of $56.75 and a 200 day moving average price of $46.03. The stock has a market cap of $158.50 million, a price-to-earnings ratio of 14.03 and a beta of 0.75. Kewaunee Scientific Corporation has a fifty-two week low of $30.33 and a fifty-two week high of $71.33. The company has a quick ratio of 1.59, a current ratio of 2.20 and a debt-to-equity ratio of 0.92.

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

Insiders Place Their Bets

In other Kewaunee Scientific news, CFO Donald T. Gardner III sold 3,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 14,564 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.30% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.