Kewaunee Scientific (NASDAQ:KEQU) Announces Quarterly Earnings Results

Key Points

• Kewaunee Scientific reported a quarterly earnings per share of $1.10, with a return on equity of 26.02% and a net margin of 4.74%.
• The company's stock price increased to $54.69 during mid-day trading, with a market capitalization of $161.34 million.
• CFO Donald T. Gardner III sold 3,000 shares of the company's stock, resulting in a 17.08% decrease in his holdings, which are now valued at approximately $853,304.76.

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $1.10 EPS for the quarter, Zacks reports. Kewaunee Scientific had a return on equity of 26.25% and a net margin of 4.68%.The firm had revenue of $71.10 million for the quarter.

Kewaunee Scientific Price Performance

Shares of KEQU traded down $0.69 during midday trading on Friday, hitting $42.39. The company's stock had a trading volume of 25,285 shares, compared to its average volume of 11,361. Kewaunee Scientific has a one year low of $30.33 and a one year high of $71.33. The company's fifty day simple moving average is $55.86 and its two-hundred day simple moving average is $45.91. The company has a quick ratio of 1.59, a current ratio of 2.20 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $125.05 million, a price-to-earnings ratio of 10.26 and a beta of 0.75.

Insider Activity

In other news, CFO Donald T. Gardner III sold 3,000 shares of Kewaunee Scientific stock in a transaction 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 transaction, the chief financial officer owned 14,564 shares in the company, valued at approximately $853,304.76. This trade represents a 17.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.30% of the company's stock.

Hedge Funds Weigh In On Kewaunee Scientific

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Kewaunee Scientific by 2,605.9% during the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company's stock valued at $28,000 after acquiring an additional 443 shares in the last quarter. Raymond James Financial Inc. bought a new position in Kewaunee Scientific in the second quarter valued at about $60,000. Mink Brook Asset Management LLC bought a new position in Kewaunee Scientific in the second quarter valued at about $370,000. First Trust Advisors LP raised its position in Kewaunee Scientific by 3.4% in the second quarter. First Trust Advisors LP now owns 6,726 shares of the technology company's stock valued at $395,000 after purchasing an additional 222 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Kewaunee Scientific by 65.8% in the first quarter. Jane Street Group LLC now owns 8,052 shares of the technology company's stock valued at $317,000 after purchasing an additional 3,196 shares during the last quarter. Institutional investors own 32.69% of the company's stock.

Analysts Set New Price Targets

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

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.