Parametric Portfolio Associates LLC lowered its holdings in Layne Christensen Company (NASDAQ:LAYN) by 89.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,496 shares of the construction company’s stock after selling 398,835 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.24% of Layne Christensen worth $426,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Alliancebernstein L.P. bought a new stake in Layne Christensen in the 2nd quarter valued at about $119,000. Nationwide Fund Advisors increased its position in shares of Layne Christensen by 3.0% during the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock valued at $128,000 after buying an additional 428 shares during the period. Rhumbline Advisers increased its position in shares of Layne Christensen by 8.8% during the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock valued at $190,000 after buying an additional 1,755 shares during the period. Teachers Advisors LLC increased its position in shares of Layne Christensen by 11.5% during the second quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock valued at $308,000 after buying an additional 3,619 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Layne Christensen by 139.2% during the second quarter. Wells Fargo & Company MN now owns 40,670 shares of the construction company’s stock valued at $358,000 after buying an additional 23,670 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.
Shares of Layne Christensen Company (NASDAQ:LAYN) opened at $12.90 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 2.93. Layne Christensen Company has a 12-month low of $6.98 and a 12-month high of $13.64.
Layne Christensen (NASDAQ:LAYN) last announced its quarterly earnings data on Tuesday, December 5th. The construction company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.07). The company had revenue of $127.43 million during the quarter, compared to the consensus estimate of $131.12 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) EPS. research analysts predict that Layne Christensen Company will post -0.36 EPS for the current fiscal year.
Several brokerages have recently weighed in on LAYN. ValuEngine cut Layne Christensen from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Jefferies Group reissued a “hold” rating and set a $11.00 price objective (up previously from $9.00) on shares of Layne Christensen in a report on Thursday, September 14th. Finally, Zacks Investment Research lowered Layne Christensen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.
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Layne Christensen 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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