Kewaunee Scientific Trades New Volume Record (KEQU)

Kewaunee Scientific (NASDAQ: KEQU) staged a rally of 4.1% today, along with continued volume accumulation. The stock closed at a share price of $11.90 with 145,898 shares of Kewaunee Scientific exchanging hands today, which set a new volume record for the stock. The stock has surged higher each day since June 27, 2012, and has a total gain of 45.9% in share price year-to-date.

The Nasdaq posted the ten largest volume increases today, and Kewaunee Scientific ranked among the top 10 with heaviest volume accumulation. To date, the volume increase of Kewaunee Scientific exceeds 6000% during the past 65 days.

On June 29, 2012, Kewaunee Scientific reported that its earnings surged, with net earnings of $1.3 million, or 49 cents per diluted share, for the company’s fourth fiscal quarter ended April 30, 2012. At the same time one year ago, Kewaunee Scientific’s income was at $252,000, or 10 cents per share.

Here are a couple of other notable headlines about Kewaunee Scientific:

  • May 30, 2012: Kewaunee Scientific announced its Board of Directors declared a quarterly cash dividend of ten cents per outstanding share, payable on June 25, 2012 to stockholders of record at the close of business on June 11, 2012.
  • March 13, 2012: Kewaunee Scientific announced that at a meeting of its Board held on March 12, 2012, David M. Rausch, age 53, was elected president and Chief Operating Officer of the company.

Kewaunee Scientific has been promoted by several newsletters. StockPromoters.com listed 12 results for stock promotion related to Kewaunee, while none of the promotions have been compensated.

Kewaunee Scientific designs, manufactures and installs laboratory technical and laminate furniture products.

The company operates in two business segments: Domestic Operations and International Operations. The Domestic Operations segment principally designs, manufactures, and installs scientific and technical furniture. The International Operations segment, which consists of four foreign subsidiaries, provides both the company’s products and services.

Kewaunee Scientific’s sales are made through purchase orders and contracts submitted by customers, through its dealers and commissioned agents and a national distributor, as well as through competitive bids submitted by the company and its subsidiaries in India and Singapore.

The company’s products are sold to pharmaceutical, biotechnology, industrial, chemical and commercial research laboratories, educational institutions, healthcare institutions, governmental entities, manufacturing facilities and users of networking furniture.

The company owns and operates three manufacturing facilities in Statesville, North Carolina.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.

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