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Donald T. Gardner III, the Chief Financial Officer of Kewaunee Scientific Corp (NASDAQ:KEQU), a $114 million market cap company currently trading at a P/E ratio of 6.6, recently sold shares of the company, according to a filing submitted to the Securities and Exchange Commission. According to InvestingPro analysis, the stock appears to be overvalued at current levels. On March 26, Gardner sold a total of 3,000 shares of common stock, with the transactions taking place at prices ranging from $39.17 to $41.25 per share. The total value of these sales amounts to $120,039. The timing is notable as InvestingPro data shows the stock has declined 8.6% over the past week and is down 31.3% year-to-date.
Following these transactions, Gardner retains ownership of 18,358 shares in the company. The sales were executed in three separate transactions, with the largest involving 2,124 shares sold at an average price of $40.36 per share. The remaining shares were sold in smaller batches, with one transaction involving just a single share at $41.25.
These transactions reflect Gardner’s latest activity in Kewaunee Scientific, a company known for its laboratory apparatus and furniture products.
In other recent news, Kewaunee Scientific Corporation announced an expansion of its share repurchase program. The Board of Directors has authorized the repurchase of an additional 100,000 shares of the company’s common stock. This decision follows the completion of Kewaunee’s acquisition of Nu Aire, Inc., which was finalized on November 1, 2024. The company had previously paused its share repurchase activities to focus on this acquisition but resumed buying back shares on February 28, 2025. The management will determine the timing and volume of repurchases based on various factors, including business capital needs and market conditions. The repurchase program is part of Kewaunee’s capital allocation strategy, aiming to create shareholder value. This development comes as Kewaunee continues to broaden its product offerings with the recent addition of biological safety cabinets and other laboratory equipment through the acquisition of Nu Aire.
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