FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
In a recent transaction, Keith M. Gehl, a director at Kewaunee Scientific Corp (NASDAQ:KEQU), purchased 1,000 shares of the company's common stock. The shares were acquired at a price of $35 each, totaling $35,000. This purchase comes as the stock trades significantly below its 52-week high of $71.33, with InvestingPro analysis showing the company maintains strong financial health with a current ratio of 2.16. Following this purchase, Gehl's direct ownership in the company increased to 18,500 shares. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission, dated April 7, 2025. The insider buying aligns with broader management confidence, as InvestingPro data reveals aggressive share buybacks and strong profitability with a P/E ratio of 5.97. InvestingPro subscribers can access 8 additional key insights about KEQU's market position and future outlook.
In other recent news, Kewaunee Scientific Corporation has announced an expansion of its share repurchase program, allowing for the repurchase of an additional 100,000 shares of its common stock. This decision comes after the company completed its acquisition of Nu Aire, Inc. on November 1, 2024, which added biological safety cabinets and other laboratory equipment to its offerings. The share repurchase program, initially paused to focus on this acquisition, resumed on February 28, 2025, and will continue as long as market and capital conditions are deemed favorable. The company's management will assess the timing and volume of repurchases based on business capital needs, market conditions, and the market price of its stock. The program does not obligate Kewaunee Scientific to purchase a specific number of shares and may be adjusted at the company's discretion. This development aligns with the company's capital allocation strategy, as noted by President and CEO Thomas D. Hull III.
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