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In a recent series of stock transactions, Donald T. Gardner III, the Chief Financial Officer of Kewaunee Scientific Corp. (NASDAQ:KEQU), sold shares worth a total of $148,427. The sales, which occurred over two days, involved a total of 4,000 shares of common stock. The transactions come as InvestingPro data shows the company maintaining strong financial health with a current ratio of 2.16, indicating robust liquidity.
On April 9, Gardner sold 734 shares at an average price of $36.79, with prices ranging from $36.31 to $37.25. On the same day, he also sold an additional 2,266 shares at an average price of $38.06, within a price range of $37.49 to $38.34. The following day, April 10, he sold 1,000 shares at an average price of $35.18, with prices ranging from $35.00 to $35.35. The stock has since declined to $34.55, reflecting broader market pressures that have led to a 44% year-to-date decline.
Following these transactions, Gardner retains ownership of 14,358 shares of Kewaunee Scientific, representing a stake in this $98.6 million market cap company. InvestingPro analysis reveals 6 additional key insights about the company's performance and outlook, available to subscribers.
In other recent news, Kewaunee Scientific Corporation has expanded its share repurchase program, authorizing the buyback of an additional 100,000 shares of its common stock. This decision follows the completion of its acquisition of Nu Aire, Inc. on November 1, 2024, which broadened Kewaunee's product range to include biological safety cabinets and other laboratory equipment. The company had previously paused share repurchases to focus on this acquisition but resumed the activity on February 28, 2025. The repurchase program is part of Kewaunee's capital allocation strategy, with management believing it will create shareholder value. The timing and volume of repurchases will depend on business capital needs, market conditions, and the stock's market price. The program does not require the company to repurchase a specific number of shares and may be adjusted as needed. These developments reflect Kewaunee's strategic financial planning and market positioning efforts.
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