Mario Gabelli Raises Exposure to Layne Christensen Company (LAYN)

Mario Gabelli‘s GAMCO Investors has disclosed picking up its stake in Layne Christensen Company (NASDAQ:LAYN) to 1.98 million shares, from 1.81 million reported as held at the end of the first quarter of the year. GAMCO’s new stake ammases almost 10% of the company’s common stock. Overall, GAMCO, together with other affiliated funds such as Gabelli Funds and Teton Advisors owns around 3.11 million shares, equal to 15.70% of the Layne Christensen Company (NASDAQ:LAYN)’s common stock.

Mario Gabelli

In the previous round of 13F filings, several other funds revealed ownership of Layne Christensen Company (NASDAQ:LAYN)’s shares. Chuck Royce‘s Royce & Associates held around 1.79 million shares, followed by Peter Schliemann‘s Rutabaga Capital Management with 1.26 million shares, while some other funds reported smaller stakes in the small-cap company. With a market cap of $244.7 million, Layne Christensen Company (NASDAQ:LAYN) is engaged in water management, construction and drilling of water- and sewage-related infrastructure. The company operates primarily in North America, but also conducts works in Africa, Asia, Australia and South America.

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