Kewaunee Scientific (NASDAQ:KEQU) Stock Rating Lowered by StockNews.com

Kewaunee Scientific (NASDAQ:KEQU) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Kewaunee Scientific Stock Down 2.1 %

Shares of Kewaunee Scientific stock traded down $0.70 on Wednesday, reaching $32.18. The company’s stock had a trading volume of 13,024 shares, compared to its average volume of 17,437. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.48. Kewaunee Scientific has a 52 week low of $16.51 and a 52 week high of $55.62. The company has a market capitalization of $91.39 million, a price-to-earnings ratio of 5.07 and a beta of 0.72. The firm’s fifty day simple moving average is $40.63 and its two-hundred day simple moving average is $41.55.

Kewaunee Scientific (NASDAQ:KEQU) last announced its quarterly earnings results on Wednesday, September 11th. The technology company reported $0.93 EPS for the quarter. Kewaunee Scientific had a net margin of 9.13% and a return on equity of 25.87%. The firm had revenue of $48.39 million during the quarter.

Institutional Investors Weigh In On Kewaunee Scientific

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Kewaunee Scientific by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 177,548 shares of the technology company’s stock valued at $8,378,000 after purchasing an additional 6,132 shares during the period. Renaissance Technologies LLC lifted its position in shares of Kewaunee Scientific by 13.4% during the second quarter. Renaissance Technologies LLC now owns 89,611 shares of the technology company’s stock worth $4,230,000 after purchasing an additional 10,580 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Kewaunee Scientific by 24.6% during the 3rd quarter. Ritholtz Wealth Management now owns 10,913 shares of the technology company’s stock worth $363,000 after acquiring an additional 2,156 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new position in Kewaunee Scientific in the second quarter valued at approximately $252,000. 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.