Thomas David Hull III, the President and CEO of Kewaunee Scientific Corp (NASDAQ:KEQU), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Hull sold 1,368 shares of common stock on January 10, 2025. The shares were sold at a weighted average price of $60.08, with individual transaction prices ranging from $60.00 to $60.40. The total value of the sale amounted to $82,189. Following this transaction, Hull retains ownership of 41,129 shares directly.The sale comes amid strong performance for the $165 million market cap company, which has delivered a remarkable 104% return over the past year. InvestingPro data shows Kewaunee trading at an attractive P/E ratio of 8.45, with analysis indicating the stock is currently undervalued. The company maintains a "GREAT" financial health score, supported by strong liquidity ratios and moderate debt levels. InvestingPro subscribers have access to 10 additional investment tips and comprehensive financial metrics for KEQU.
In other recent news, Kewaunee Scientific Corporation has announced a strategic expansion through the acquisition of Minneapolis-based company, Nu Aire, for $55 million. This recent development is expected to strengthen Kewaunee's market presence and diversify its product range. Nu Aire, with its extensive history of over 50 years, specializes in biological safety cabinets and various laboratory and pharmacy equipment, serving a diverse customer base in life sciences, healthcare, education, and other sectors.
The acquisition is seen as a transformative move for Kewaunee, enhancing its product portfolio and market reach, particularly in regions where it previously lacked distribution partners. The combined organization aims to address the evolving needs of laboratory environments globally. Following the acquisition, Nu Aire's President, Bill Peters, will join Kewaunee's corporate management team while maintaining his current role.
In other recent developments, the outcomes of Kewaunee's Annual Meeting of Shareholders were disclosed. The re-election of Mr. Keith M. Gehl as a Class II director and the appointment of Forvis Mazars, LLP as the company’s independent auditors for the fiscal year 2025 were confirmed. The compensation of the company’s executive officers also received advisory approval. These updates reflect the recent developments within the corporation.
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