Kewaunee Scientific (NASDAQ:KEQU) Announces 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) issued its quarterly earnings data on Wednesday. The technology company reported $1.10 earnings per share for the quarter, Zacks reports. The firm had revenue of $71.10 million during the quarter. Kewaunee Scientific had a return on equity of 26.25% and a net margin of 4.68%.

Kewaunee Scientific Stock Performance

Shares of KEQU traded up $2.91 during mid-day trading on Monday, reaching $45.30. The company had a trading volume of 14,214 shares, compared to its average volume of 12,039. Kewaunee Scientific has a 52-week low of $30.33 and a 52-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. The stock has a market capitalization of $133.64 million, a P/E ratio of 10.97 and a beta of 0.75. The stock has a 50 day moving average of $55.59 and a two-hundred day moving average of $45.72.

Insider Activity at Kewaunee Scientific

In other news, CFO Donald T. Gardner III sold 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $58.59, for a total value of $175,770.00. Following the sale, the chief financial officer owned 14,564 shares in the company, valued at $853,304.76. This represents a 17.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.30% of the stock is owned by insiders.

Institutional Trading of Kewaunee Scientific

A number of hedge funds have recently modified their holdings of KEQU. Goldman Sachs Group Inc. boosted its stake in shares of Kewaunee Scientific by 125.7% in the first quarter. Goldman Sachs Group Inc. now owns 19,397 shares of the technology company's stock worth $764,000 after buying an additional 10,803 shares during the last quarter. Mink Brook Asset Management LLC purchased a new position in Kewaunee Scientific during the second quarter worth approximately $370,000. Jane Street Group LLC boosted its position in Kewaunee Scientific by 65.8% during the first quarter. Jane Street Group LLC now owns 8,052 shares of the technology company's stock worth $317,000 after purchasing an additional 3,196 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Kewaunee Scientific during the second quarter worth approximately $60,000. Finally, Bank of America Corp DE boosted its position in 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 purchasing an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 32.69% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Kewaunee Scientific from a "hold" rating to a "buy" rating in a research report 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.