Kewaunee Scientific (NASDAQ:KEQU) Rating Lowered to Hold at StockNews.com

Kewaunee Scientific (NASDAQ:KEQU) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Kewaunee Scientific Price Performance

Shares of NASDAQ KEQU opened at $47.58 on Friday. Kewaunee Scientific has a 1-year low of $30.74 and a 1-year high of $71.33. The company has a current ratio of 2.64, a quick ratio of 2.13 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $58.59 and its 200-day moving average is $47.87. The firm has a market cap of $136.65 million, a P/E ratio of 7.54 and a beta of 0.71.

Kewaunee Scientific (NASDAQ:KEQU) last posted its quarterly earnings results on Wednesday, March 12th. The technology company reported $1.09 earnings per share for the quarter. Kewaunee Scientific had a return on equity of 25.83% and a net margin of 9.39%. The business had revenue of $67.17 million for the quarter.

Insider Buying and Selling

In other news, VP Elizabeth D. Phillips sold 1,850 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $54.17, for a total value of $100,214.50. Following the completion of the sale, the vice president now directly owns 13,591 shares of the company’s stock, valued at $736,224.47. This represents a 11.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas David Hull III sold 1,368 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $60.08, for a total value of $82,189.44. Following the completion of the sale, the chief executive officer now directly owns 41,129 shares of the company’s stock, valued at approximately $2,471,030.32. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,994 shares of company stock valued at $729,430. 14.20% of the stock is owned by company insiders.

Institutional Trading of Kewaunee Scientific

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its stake 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 purchasing an additional 443 shares during the last quarter. Jane Street Group LLC bought a new stake in Kewaunee Scientific during the fourth quarter worth $300,000. Marshall Wace LLP bought a new stake in Kewaunee Scientific during the fourth quarter worth $736,000. Invesco Ltd. bought a new stake in Kewaunee Scientific during the fourth quarter worth $6,545,000. Finally, Wedbush Securities Inc. bought a new stake in Kewaunee Scientific during the fourth quarter worth $262,000. 32.69% of the stock is owned by hedge funds and other institutional investors.

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.