Teton Advisors Inc. held its stake in Layne Christensen Company (NASDAQ:LAYN) during the second quarter, Holdings Channel reports. The fund owned 225,000 shares of the construction company’s stock at the end of the second quarter. Teton Advisors Inc.’s holdings in Layne Christensen were worth $1,978,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Layne Christensen by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,708 shares of the construction company’s stock valued at $11,291,000 after buying an additional 3,606 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Layne Christensen by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 1,217,100 shares of the construction company’s stock valued at $10,759,000 after buying an additional 4,100 shares during the last quarter. Credit Suisse AG increased its stake in Layne Christensen by 2.6% in the first quarter. Credit Suisse AG now owns 723,400 shares of the construction company’s stock valued at $6,394,000 after buying an additional 18,046 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Layne Christensen by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 84,752 shares of the construction company’s stock valued at $750,000 after buying an additional 6,217 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Layne Christensen by 5.3% in the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock valued at $151,000 after buying an additional 855 shares during the last quarter. Hedge funds and other institutional investors own 91.02% of the company’s stock.
Layne Christensen Company (NASDAQ LAYN) opened at 9.67 on Friday. The firm has a 50-day moving average price of $9.89 and a 200 day moving average price of $8.95. The stock’s market cap is $191.51 million. Layne Christensen Company has a 1-year low of $6.98 and a 1-year high of $11.42.
Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. The company had revenue of $111.51 million for the quarter, compared to analyst estimates of $111.25 million. During the same quarter last year, the company earned ($0.45) EPS. Layne Christensen’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Layne Christensen Company will post ($0.45) EPS for the current fiscal year.
LAYN has been the subject of several recent research reports. Zacks Investment Research upgraded Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price objective for the company in a report on Saturday, June 10th. ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $9.00 price objective on shares of Layne Christensen in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating, Layne Christensen currently has a consensus rating of “Hold” and a consensus price target of $9.33.
About Layne Christensen
Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.
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