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Thomas David Hull III, President and CEO of Kewaunee Scientific Corp (NASDAQ:KEQU), has sold 2,000 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $63.01, yielding a total transaction value of $126,020. Following this sale, Hull retains ownership of 42,497 shares of Kewaunee Scientific. The shares were sold in multiple transactions, with prices ranging from $62.78 to $63.59.The sale comes as Kewaunee's stock trades near its 52-week high of $66.15, having delivered an impressive 121% return over the past year. According to InvestingPro analysis, the company maintains an "EXCELLENT" financial health score, though current valuations suggest the stock may be trading above its Fair Value. InvestingPro subscribers can access 13 additional investment tips and comprehensive valuation metrics for KEQU to make more informed investment decisions.
In other recent news, Kewaunee Scientific Corporation, a key player in laboratory furniture and technical product manufacturing, has strategically expanded its operations by acquiring Minneapolis-based company, Nu Aire. The $55 million transaction is set to enhance Kewaunee's market presence and diversify its product offerings. The acquisition is viewed as a transformative step for Kewaunee, enriching its product portfolio, and extending its market reach, especially in regions lacking previous distribution partners.
In addition to this strategic move, Kewaunee 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, and the appointment of Forvis Mazars, LLP as the company’s independent auditors for the fiscal year 2025 was ratified. The compensation of the company’s named executive officers also received advisory approval.
These recent developments highlight Kewaunee's ongoing efforts to strengthen its operations and governance. The acquisition of Nu Aire, coupled with the outcomes of the Annual Meeting of Shareholders, underscores Kewaunee's commitment to sustainable growth and robust corporate governance.
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