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In a recent transaction reported to the Securities and Exchange Commission, Keith M. Gehl, a director at Kewaunee Scientific Corp (NASDAQ:KEQU), acquired 500 shares of the company’s common stock. The shares were purchased on March 24, 2025, at $45.00 each, resulting in a total investment of $22,500. The purchase comes amid an 8.9% decline in share price over the past week, though the stock has gained 38% in the last six months. According to InvestingPro, the company maintains a GREAT financial health score. Following this transaction, Gehl’s direct ownership in the company increased to 17,500 shares. Kewaunee Scientific, known for its laboratory apparatus and furniture, is based in Statesville, North Carolina. The company, currently valued at $127.5 million, trades at an attractive P/E ratio of 7.3 and has achieved 9.4% revenue growth over the last twelve months. InvestingPro subscribers have access to 5 additional key insights about KEQU’s valuation and growth prospects.
In other recent news, Kewaunee Scientific Corporation has announced an expansion of its existing share repurchase program. The company’s Board of Directors has authorized the repurchase of an additional 100,000 shares of common stock. This decision comes after the company paused its repurchase activities to focus on acquiring Nu Aire, Inc., a deal completed on November 1, 2024. Kewaunee resumed its share repurchase activities on February 28, 2025, and plans to continue as long as market and capital conditions are favorable. The management will determine the timing and volume of these repurchases based on business capital needs and market conditions. The recent acquisition of Nu Aire expands Kewaunee’s product offerings to include biological safety cabinets and other critical laboratory equipment. The company emphasizes that the repurchase program does not obligate them to acquire a specific number of shares and may be adjusted at their discretion. This development aligns with Kewaunee’s capital allocation strategy, aiming to create shareholder value.
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