Wynnefield Capital Inc. Has $15,935,000 Position in Layne Christensen Company (LAYN)

Wynnefield Capital Inc. held its stake in Layne Christensen Company (NASDAQ:LAYN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,802,700 shares of the construction company’s stock at the end of the first quarter. Layne Christensen Company makes up about 5.6% of Wynnefield Capital Inc.’s portfolio, making the stock its 6th largest position. Wynnefield Capital Inc. owned about 9.10% of Layne Christensen Company worth $15,935,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in Layne Christensen Company by 5.8% in the first quarter. Royce & Associates LP now owns 1,884,972 shares of the construction company’s stock valued at $16,663,000 after buying an additional 103,443 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Layne Christensen Company 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. Dimensional Fund Advisors LP boosted its stake in Layne Christensen Company by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock valued at $10,035,000 after buying an additional 96,511 shares during the last quarter. Credit Suisse AG boosted its stake in Layne Christensen Company 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. Finally, Renaissance Technologies LLC boosted its stake in Layne Christensen Company by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 694,054 shares of the construction company’s stock valued at $7,544,000 after buying an additional 147,854 shares during the last quarter. Hedge funds and other institutional investors own 92.31% of the company’s stock.

Institutional Ownership by Quarter for Layne Christensen Company (NASDAQ:LAYN)

Shares of Layne Christensen Company (NASDAQ LAYN) traded down 1.17% on Wednesday, hitting $8.45. The stock had a trading volume of 111,194 shares. The company’s market capitalization is $167.35 million. Layne Christensen Company has a 1-year low of $6.50 and a 1-year high of $11.42. The firm has a 50-day moving average of $7.89 and a 200 day moving average of $9.24.

Layne Christensen Company (NASDAQ:LAYN) last posted its quarterly earnings results on Thursday, June 8th. The construction company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $111.51 million during the quarter, compared to the consensus estimate of $111.25 million. Layne Christensen Company had a negative net margin of 11.98% and a negative return on equity of 31.94%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) earnings per share. On average, equities analysts anticipate that Layne Christensen Company will post ($0.58) earnings per share for the current fiscal year.

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Several equities research analysts have weighed in on LAYN shares. Zacks Investment Research cut Layne Christensen Company from a “hold” rating to a “strong sell” rating in a research note on Friday, April 14th. Jefferies Group LLC set a $9.00 target price on Layne Christensen Company and gave the stock a “hold” rating in a research note on Saturday, June 10th. Finally, TheStreet cut Layne Christensen Company from a “c-” rating to a “d+” rating in a research note on Thursday, April 13th.

Layne Christensen Company Company Profile

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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