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Keith M. Gehl, a director at Kewaunee Scientific Corp (NASDAQ:KEQU), recently purchased 403 shares of the company’s common stock. The transaction, which took place on March 18, 2025, was executed at a price of $49 per share, bringing the total value of the acquisition to approximately $19,747. This insider purchase comes as the stock has shown remarkable strength, delivering a 59.5% return over the past year. According to InvestingPro analysis, management has been actively buying back shares, signaling strong confidence in the company’s prospects.
Following this purchase, Gehl now directly owns a total of 17,000 shares in the company. This acquisition reflects continued confidence in Kewaunee Scientific, a company known for its laboratory apparatus and furniture. The company maintains robust financials with a healthy current ratio of 2.16 and trades at an attractive P/E ratio of 8. InvestingPro subscribers can access 8 additional key insights about KEQU’s financial health and growth prospects.
In other recent news, Kewaunee Scientific Corporation has announced an expansion of its existing share repurchase program. The Board of Directors has authorized the repurchase of an additional 100,000 shares of common stock. This decision follows the company’s completion of the acquisition of Nu Aire, Inc. on November 1, 2024, which expanded Kewaunee’s product offerings to include biological safety cabinets and other laboratory equipment. The company had paused share repurchases to focus on this acquisition but resumed them on February 28, 2025, with plans to continue as market and capital conditions allow.
Kewaunee’s management will determine the timing and volume of repurchases based on several factors, including business capital needs and market conditions. The repurchase program is flexible, allowing the company to suspend or discontinue it at their discretion. This move aligns with Kewaunee’s capital allocation strategy and reflects management’s belief in creating shareholder value. The company’s recent developments indicate a strategic focus on both expanding product offerings and managing capital effectively.
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