Kewaunee Scientific (NASDAQ:KEQU) Announces Earnings Results

Kewaunee Scientific (NASDAQ:KEQU) released its quarterly earnings results on Tuesday. The technology company reported $1.14 earnings per share for the quarter, Zacks reports. Kewaunee Scientific had a net margin of 3.85% and a return on equity of 18.09%. During the same period in the previous year, the firm earned $1.95 earnings per share.

Kewaunee Scientific Stock Down 4.8%

Shares of NASDAQ:KEQU traded down $1.78 during midday trading on Tuesday, reaching $35.28. The company had a trading volume of 13,936 shares, compared to its average volume of 3,094. Kewaunee Scientific has a 1-year low of $33.70 and a 1-year high of $60.89. The stock has a market cap of $101.25 million, a PE ratio of 9.48 and a beta of 0.70. The company has a quick ratio of 1.45, a current ratio of 2.12 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $37.71 and its 200 day moving average price is $38.07.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KEQU. Punch & Associates Investment Management Inc. raised its holdings in shares of Kewaunee Scientific by 61.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 70,085 shares of the technology company’s stock valued at $2,989,000 after purchasing an additional 26,785 shares during the period. Susquehanna International Group LLP bought a new position in Kewaunee Scientific during the third quarter worth about $713,000. Goldman Sachs Group Inc. grew its holdings in Kewaunee Scientific by 125.7% during the first quarter. Goldman Sachs Group Inc. now owns 19,397 shares of the technology company’s stock worth $764,000 after purchasing an additional 10,803 shares during the period. Mink Brook Asset Management LLC acquired a new position in Kewaunee Scientific during the second quarter worth approximately $370,000. Finally, Jane Street Group LLC increased 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 buying an additional 3,196 shares during the last quarter. Institutional investors and hedge funds own 32.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kewaunee Scientific in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Kewaunee Scientific Company Profile

Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems.

The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia.