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Kornitzer Capital Management Inc. KS Buys 9,950 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Advanced Drainage Systems logo with Construction background

Kornitzer Capital Management Inc. KS increased its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,595 shares of the construction company's stock after acquiring 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WMS. Proficio Capital Partners LLC purchased a new position in Advanced Drainage Systems during the fourth quarter valued at $1,981,000. Raymond James Financial Inc. purchased a new position in Advanced Drainage Systems during the fourth quarter valued at $2,025,000. Great Lakes Advisors LLC lifted its position in Advanced Drainage Systems by 27.1% during the fourth quarter. Great Lakes Advisors LLC now owns 2,579 shares of the construction company's stock valued at $298,000 after purchasing an additional 550 shares in the last quarter. Swiss National Bank raised its holdings in Advanced Drainage Systems by 6.3% during the fourth quarter. Swiss National Bank now owns 144,900 shares of the construction company's stock valued at $16,750,000 after acquiring an additional 8,600 shares during the period. Finally, Vestcor Inc bought a new stake in Advanced Drainage Systems during the fourth quarter valued at about $247,000. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Trading Down 0.7%

Shares of NYSE:WMS traded down $0.81 during trading on Friday, reaching $111.77. The company's stock had a trading volume of 602,475 shares, compared to its average volume of 632,825. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $179.57. The firm's 50 day simple moving average is $115.64 and its two-hundred day simple moving average is $114.50. The stock has a market capitalization of $8.68 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $653.22 million. During the same period in the previous year, the business posted $1.23 EPS. The firm's revenue was down 5.8% on a year-over-year basis. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.18 dividend. 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 yield of 0.64%. The ex-dividend date was Friday, May 30th. Advanced Drainage Systems's dividend payout ratio is 12.50%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Oppenheimer decreased their price target on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. UBS Group decreased their price target on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Loop Capital decreased their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird reduced their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $139.88.

Get Our Latest Stock Report on WMS

Advanced Drainage Systems Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Advanced Drainage Systems (NYSE:WMS)

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