Kornitzer Capital Management Inc. KS Increases Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Kornitzer Capital Management Inc. KS lifted its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 160,595 shares of the construction company's stock after purchasing an additional 9,950 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.21% of Advanced Drainage Systems worth $17,449,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WMS. NBC Securities Inc. bought a new stake in Advanced Drainage Systems in the 1st quarter worth $26,000. Bessemer Group Inc. increased its holdings in Advanced Drainage Systems by 76.2% during the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after purchasing an additional 115 shares during the period. Signaturefd LLC raised its position in Advanced Drainage Systems by 110.7% during the 1st quarter. Signaturefd LLC now owns 670 shares of the construction company's stock valued at $73,000 after purchasing an additional 352 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Advanced Drainage Systems during the 4th quarter valued at approximately $74,000. Finally, GAMMA Investing LLC lifted its holdings in Advanced Drainage Systems by 167.1% in the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock worth $88,000 after buying an additional 508 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 1.6%

NYSE:WMS traded up $1.79 on Thursday, reaching $112.68. 648,969 shares of the stock traded hands, compared to its average volume of 632,726. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.65 and a beta of 1.24. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $179.57. The company's fifty day simple moving average is $115.71 and its 200 day simple moving average is $114.51.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The business had revenue of $615.76 million for the quarter, compared to analysts' expectations of $653.22 million. During the same quarter in the prior year, the business posted $1.23 earnings per share. The business's revenue for the quarter was down 5.8% on a year-over-year basis. Equities analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.18 dividend. The ex-dividend date was Friday, May 30th. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.64%. Advanced Drainage Systems's payout ratio is currently 12.50%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Loop Capital cut their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. UBS Group decreased their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price on the stock. Finally, Wall Street Zen cut shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $139.88.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.