Mackenzie Financial Corp Buys New Shares in Advanced Drainage Systems, Inc. (NYSE:WMS)

Key Points

• Mackenzie Financial Corp acquired 94,188 shares of Advanced Drainage Systems, Inc. valued at approximately $10,234,000, representing about 0.12% of the company's total shares.
• Advanced Drainage Systems reported a 5.8% decline in quarterly revenue year-over-year, with earnings per share (EPS) of $1.03, missing analyst expectations.
• The company increased its quarterly dividend to $0.18 per share, resulting in a 0.6% dividend yield for investors.

Mackenzie Financial Corp purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 94,188 shares of the construction company's stock, valued at approximately $10,234,000. Mackenzie Financial Corp owned 0.12% of Advanced Drainage Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Advanced Drainage Systems in the 1st quarter valued at $26,000. Bessemer Group Inc. raised its holdings in shares of Advanced Drainage Systems by 76.2% in 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 grew its position in shares of Advanced Drainage Systems by 110.7% in the first 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 stake in shares of Advanced Drainage Systems in the fourth quarter valued at about $74,000. Finally, GAMMA Investing LLC raised its position in shares of Advanced Drainage Systems by 167.1% in the first quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock valued at $88,000 after buying an additional 508 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

WMS traded down $1.00 during midday trading on Friday, reaching $113.75. The company had a trading volume of 585,920 shares, compared to its average volume of 581,089. The stock has a market cap of $8.83 billion, a PE ratio of 19.75, a P/E/G ratio of 1.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. The business has a 50-day moving average price of $115.23 and a two-hundred day moving average price of $114.54. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $166.03.

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). The business had revenue of $615.76 million for the quarter, compared to analysts' expectations of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The business's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.18 per share. 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 yield of 0.6%. Advanced Drainage Systems's dividend payout ratio (DPR) is 12.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. KeyCorp cut their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Robert W. Baird decreased their price target on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Barclays lifted their price objective on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Oppenheimer lowered their target price on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company 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 given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.88.

Advanced Drainage Systems Profile

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.