Insider Selling: Kewaunee Scientific (NASDAQ:KEQU) CFO Sells 3,000 Shares of Stock

Key Points

• Kewaunee Scientific CFO Donald Gardner III sold 3,000 shares at an average price of $42.76, reducing his ownership by 20.60%.
• The company's stock has seen a 12-month low of $30.33 and a high of $71.33, with current trading at approximately $42.43.
• Institutional investors have shown notable interest, including Bank of America increasing its stake by 2,605.9% in the last quarter.

Kewaunee Scientific Corporation (NASDAQ:KEQU - Get Free Report) CFO Donald Gardner III sold 3,000 shares of the company's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $42.76, for a total value of $128,280.00. Following the sale, the chief financial officer owned 11,564 shares of the company's stock, valued at approximately $494,476.64. This represents a 20.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kewaunee Scientific Price Performance

Shares of KEQU stock traded down $0.71 on Friday, hitting $42.43. 3,843 shares of the company's stock were exchanged, compared to its average volume of 17,057. Kewaunee Scientific Corporation has a 12 month low of $30.33 and a 12 month high of $71.33. The company has a 50 day moving average of $50.58 and a 200 day moving average of $45.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.32 and a quick ratio of 1.63. The stock has a market cap of $121.77 million, a P/E ratio of 10.27 and a beta of 0.68.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) last issued its earnings results on Wednesday, September 10th. The technology company reported $1.10 earnings per share (EPS) for the quarter. The business had revenue of $71.10 million during the quarter. Kewaunee Scientific had a return on equity of 25.65% and a net margin of 4.68%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in 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 lifted its holdings 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Kewaunee Scientific in the second quarter valued at approximately $60,000. Wedbush Securities Inc. bought a new position in shares of Kewaunee Scientific in the second quarter valued at approximately $232,000. Finally, Morgan Dempsey Capital Management LLC lifted its holdings in shares of Kewaunee Scientific by 41.8% in the second quarter. Morgan Dempsey Capital Management LLC now owns 4,229 shares of the technology company's stock valued at $247,000 after purchasing an additional 1,247 shares in the last quarter. Institutional investors own 32.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KEQU shares. Wall Street Zen raised Kewaunee Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Kewaunee Scientific in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

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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