Alliancebernstein L.P. Acquires Shares of 13,500 Layne Christensen Company (LAYN)
Alliancebernstein L.P. acquired a new position in shares of Layne Christensen Company (NASDAQ:LAYN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,500 shares of the construction company’s stock, valued at approximately $119,000. Alliancebernstein L.P. owned 0.07% of Layne Christensen as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royce & Associates LP boosted its stake in Layne Christensen by 3.6% during the second quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock worth $17,172,000 after buying an additional 68,599 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Layne Christensen by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,135,219 shares of the construction company’s stock worth $10,035,000 after purchasing an additional 96,511 shares during the last quarter. Credit Suisse AG lifted its position in shares of Layne Christensen by 2.6% during the first quarter. Credit Suisse AG now owns 723,400 shares of the construction company’s stock worth $6,394,000 after purchasing an additional 18,046 shares during the last quarter. KBC Group NV lifted its position in shares of Layne Christensen by 1.1% during the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Layne Christensen by 7.9% during the first quarter. Bank of New York Mellon Corp now owns 84,752 shares of the construction company’s stock worth $750,000 after purchasing an additional 6,217 shares during the last quarter. 88.94% of the stock is owned by institutional investors.
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Shares of Layne Christensen Company (NASDAQ LAYN) opened at $12.82 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 2.93. Layne Christensen Company has a fifty-two week low of $6.98 and a fifty-two week high of $13.64.
Layne Christensen (NASDAQ:LAYN) last released its quarterly earnings data on Monday, September 11th. The construction company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. The firm had revenue of $126.20 million during the quarter, compared to the consensus estimate of $122.99 million. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) earnings per share. equities research analysts anticipate that Layne Christensen Company will post -0.36 EPS for the current fiscal year.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Layne Christensen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine downgraded Layne Christensen from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $11.00 price objective (up from $9.00) on shares of Layne Christensen in a report on Thursday, September 14th.
Layne Christensen 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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