In a recent filing with the Securities and Exchange Commission, Donald T. Gardner III, Chief Financial Officer of Kewaunee Scientific Corp (NASDAQ:KEQU), disclosed the sale of company stock totaling $119,236. The transactions took place on December 24, 2024, involving several sales of common stock. The timing of these sales coincides with KEQU trading near its 52-week high of $63.23, following an impressive year-to-date return of 110%. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
Gardner sold a total of 2,049 shares at prices ranging from $56.74 to $62.00 per share. Following these transactions, he now holds 22,615 shares directly. The sales were executed in multiple transactions, with weighted average prices reported for each batch of shares sold. InvestingPro data reveals the company maintains an EXCELLENT financial health score, with strong profitability metrics including a 26.6% gross margin.
Kewaunee Scientific, based in Statesville, NC, specializes in laboratory apparatus and furniture, and is publicly traded under the ticker KEQU on the NASDAQ. The company's stock has shown remarkable momentum, gaining over 11% in the past week alone. Subscribers to InvestingPro can access 13 additional investment tips and detailed financial metrics for KEQU.
In other recent news, Kewaunee Scientific Corporation has made strategic moves that have caught the attention of investors. The company recently announced the acquisition of Minneapolis-based Nu Aire for $55 million, a move expected to enhance Kewaunee's market presence and product offerings. Nu Aire, a specialist in biological safety cabinets and various laboratory equipment, brings a diverse customer base spanning life sciences, healthcare, education, and other sectors.
In addition to this significant merger, Kewaunee has also disclosed the outcomes of its Annual Meeting of Shareholders. The re-election of Mr. Keith M. Gehl as a Class II director was confirmed with substantial support, receiving 1,404,874 votes in favor. Furthermore, Forvis Mazars, LLP was ratified as the company’s independent auditors for the fiscal year 2025, receiving a remarkable 2,414,204 votes in favor.
These recent developments, including the acquisition and shareholder meeting outcomes, highlight Kewaunee's active engagement in strategic expansion and governance. As these events unfold, investors will be closely monitoring the impact of these decisions on Kewaunee's future performance.
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