Kewaunee Scientific (NASDAQ:KEQU) Announces Quarterly Earnings Results

Kewaunee Scientific (NASDAQ:KEQU) announced its quarterly earnings results on Wednesday. The technology company reported $0.58 earnings per share (EPS) for the quarter, Zacks reports. Kewaunee Scientific had a net margin of 3.41% and a return on equity of 14.10%.

Kewaunee Scientific Stock Down 2.7%

Shares of KEQU traded down $0.98 during trading hours on Wednesday, reaching $35.03. 3,791 shares of the stock traded hands, compared to its average volume of 4,652. Kewaunee Scientific has a 52 week low of $33.27 and a 52 week high of $57.88. The company has a market cap of $100.47 million, a price-to-earnings ratio of 10.88 and a beta of 0.73. The stock has a fifty day simple moving average of $36.77 and a 200 day simple moving average of $37.19. The company has a current ratio of 2.18, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Hedge Funds Weigh In On Kewaunee Scientific

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Kewaunee Scientific by 2,605.9% in the 4th quarter. Bank of America Corp DE now owns 460 shares of the technology company’s stock worth $28,000 after buying an additional 443 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in 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 purchasing an additional 10,803 shares during the last quarter. Jane Street Group LLC grew its stake in Kewaunee Scientific by 65.8% in the 1st quarter. Jane Street Group LLC now owns 8,052 shares of the technology company’s stock valued at $317,000 after purchasing an additional 3,196 shares during the period. Geode Capital Management LLC increased its position in shares of Kewaunee Scientific by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 24,013 shares of the technology company’s stock valued at $1,410,000 after purchasing an additional 223 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Kewaunee Scientific by 3.4% during the 2nd quarter. First Trust Advisors LP now owns 6,726 shares of the technology company’s stock valued at $395,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 32.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kewaunee Scientific in a report on Tuesday, June 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

About Kewaunee Scientific

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.