Kewaunee Scientific (NASDAQ:KEQU) Releases Quarterly Earnings Results

Kewaunee Scientific (NASDAQ:KEQU - Get Free Report) posted its quarterly earnings results on Wednesday. The technology company reported $1.95 earnings per share for the quarter, Zacks reports. Kewaunee Scientific had a net margin of 7.99% and a return on equity of 24.66%.

Kewaunee Scientific Stock Up 5.1%

NASDAQ KEQU traded up $1.95 during trading on Wednesday, reaching $40.48. The company's stock had a trading volume of 10,555 shares, compared to its average volume of 23,057. The company has a current ratio of 2.16, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $115.57 million, a PE ratio of 6.85 and a beta of 0.56. The business has a 50-day moving average price of $36.05 and a 200-day moving average price of $47.30. Kewaunee Scientific has a 1-year low of $30.33 and a 1-year high of $71.33.

Insiders Place Their Bets

In related news, Director Keith M. Gehl purchased 1,000 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $35.00 per share, for a total transaction of $35,000.00. Following the purchase, the director now owns 18,500 shares in the company, valued at $647,500. The trade was a 5.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas David Hull III sold 1,844 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $32.44, for a total value of $59,819.36. Following the transaction, the chief executive officer now directly owns 36,072 shares in the company, valued at approximately $1,170,175.68. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 14.20% of the company's stock.

Institutional Investors Weigh In On Kewaunee Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in Kewaunee Scientific by 125.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,397 shares of the technology company's stock worth $764,000 after acquiring an additional 10,803 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Kewaunee Scientific by 65.8% during the 1st 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 during the last quarter. Finally, Bank of America Corp DE boosted its stake in 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 purchasing an additional 443 shares during the period. 32.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Kewaunee Scientific from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

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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