Douglas J. Batdorff, Vice President of Manufacturing Operations at Kewaunee Scientific Corp. (NASDAQ:KEQU), recently sold 3,470 shares of the company's common stock. The shares were sold at a price of $65.50 each, amounting to a total transaction value of $227,285. Following this sale, Batdorff retains ownership of 5,000 shares. This transaction was disclosed in a filing with the Securities and Exchange Commission.The sale comes as KEQU shares have surged 107% over the past year, with the stock currently trading near its 52-week high. According to InvestingPro analysis, the company maintains a GREAT financial health score, though technical indicators suggest the stock is in overbought territory. For deeper insights into insider trading patterns and 12 additional ProTips, consider an InvestingPro subscription.
In other recent news, Kewaunee Scientific Corporation has strategically expanded by acquiring Nu Aire, a Minneapolis-based company, for $55 million. This acquisition is expected to strengthen Kewaunee's market presence and diversify its product range. Nu Aire, renowned for its specialization in biological safety cabinets, airflow products, and various laboratory and pharmacy equipment, will continue its operations under the Kewaunee umbrella. The President of Nu Aire, Bill Peters, will retain his role and join Kewaunee's corporate management team.
In other developments, Kewaunee recently held its Annual Meeting of Shareholders, where the re-election of Mr. Keith M. Gehl as a Class II director was confirmed with 1,404,874 votes in favor. The appointment of Forvis Mazars, LLP as the company’s independent auditors for the fiscal year 2025 was ratified with 2,414,204 votes in support. Additionally, the compensation of the company’s named executive officers received advisory approval. These updates are part of the recent developments from the corporation, as reported in the company's SEC filing.
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