Punch & Associates Investment Management Inc. Acquires Shares of 20,000 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 Kewaunee Scientific Corporation (NASDAQ:KEQU - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Other large investors also recently made changes to their positions in the company. Bank of America Corp DE increased its position 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 worth $28,000 after acquiring an additional 443 shares in the last quarter. IFP Advisors Inc increased its position 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 worth $37,000 after acquiring an additional 360 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Kewaunee Scientific in the fourth quarter worth $300,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Kewaunee Scientific in the first quarter worth $284,000. Finally, Ritholtz Wealth Management increased its position 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 worth $707,000 after acquiring an additional 5,330 shares in the last quarter. Institutional investors and hedge funds own 32.69% of the company's stock.

Insider Buying and Selling

In other Kewaunee Scientific news, CFO Donald T. Gardner III sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $58.59, for a total transaction of $175,770.00. Following the transaction, the chief financial officer directly owned 14,564 shares in the company, valued at $853,304.76. This represents a 17.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.30% of the stock is owned by company insiders.

Kewaunee Scientific Stock Down 0.6%

KEQU traded down $0.28 during trading hours on Friday, reaching $42.81. 10,409 shares of the stock traded hands, compared to its average volume of 17,866. The firm's fifty day simple moving average is $56.19 and its two-hundred day simple moving average is $45.98. The company has a market cap of $126.27 million, a price-to-earnings ratio of 10.36 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 debt-to-equity ratio of 0.92, a current ratio of 2.20 and a quick ratio of 1.59.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last released its quarterly earnings results on Wednesday, September 10th. The technology company reported $1.10 earnings per share for the quarter. The business had revenue of $71.10 million during the quarter. Kewaunee Scientific had a net margin of 4.68% and a return on equity of 26.25%.

Wall Street Analyst Weigh In

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

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.