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

StockNews.com downgraded shares of Kewaunee Scientific (NASDAQ:KEQU) from a buy rating to a hold rating in a report released on Friday morning.

Kewaunee Scientific Trading Down 1.3 %

Shares of Kewaunee Scientific stock opened at $47.58 on Friday. Kewaunee Scientific has a 12-month low of $30.74 and a 12-month high of $71.33. The company has a market cap of $136.65 million, a price-to-earnings ratio of 7.54 and a beta of 0.71. 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 company’s 50-day moving average price is $58.59 and its 200-day moving average price is $47.92.

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

Insider Transactions at Kewaunee Scientific

In related news, CEO Thomas David Hull III sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $63.01, for a total value of $126,020.00. Following the sale, the chief executive officer now directly owns 42,497 shares of the company’s stock, valued at $2,677,735.97. This trade represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donald T. Gardner III sold 2,049 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $58.19, for a total transaction of $119,231.31. Following the completion of the sale, the chief financial officer now directly owns 22,615 shares in the company, valued at $1,315,966.85. This represents a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,994 shares of company stock valued at $729,430. 14.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kewaunee Scientific

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Kewaunee Scientific by 8.9% in the third quarter. Geode Capital Management LLC now owns 23,784 shares of the technology company’s stock valued at $792,000 after purchasing an additional 1,941 shares in the last quarter. JPMorgan Chase & Co. grew its position in Kewaunee Scientific by 18,000.0% during the third quarter. JPMorgan Chase & Co. now owns 905 shares of the technology company’s stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Kewaunee Scientific during the fourth quarter valued at approximately $338,000. Barclays PLC bought a new position in Kewaunee Scientific during the third quarter valued at approximately $121,000. Finally, IFP Advisors Inc bought a new position in Kewaunee Scientific during the fourth quarter valued at approximately $36,000. 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.