Kornitzer Capital Management Inc. KS Has $17.42 Million Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Kornitzer Capital Management Inc. KS lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 56.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,645 shares of the construction company’s stock after acquiring an additional 54,295 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.19% of Advanced Drainage Systems worth $17,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank grew its holdings in shares of Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after purchasing an additional 213 shares during the last quarter. Millburn Ridgefield Corp grew its holdings in Advanced Drainage Systems by 642.4% during the 3rd quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock worth $77,000 after acquiring an additional 424 shares during the last quarter. CWM LLC grew its holdings in Advanced Drainage Systems by 18.1% during the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock worth $87,000 after acquiring an additional 85 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after acquiring an additional 88 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Advanced Drainage Systems during the fourth quarter worth $94,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Up 0.6 %

NYSE:WMS opened at $126.84 on Tuesday. Advanced Drainage Systems, Inc. has a 12 month low of $110.75 and a 12 month high of $184.27. The company has a current ratio of 3.21, a quick ratio of 2.15 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.13 and a beta of 1.52. The firm has a fifty day simple moving average of $120.66 and a two-hundred day simple moving average of $138.00.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Analysts expect that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is currently 10.70%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group upgraded Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Wednesday, January 8th. Barclays decreased their target price on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Oppenheimer dropped their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. KeyCorp decreased their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Robert W. Baird dropped their target price on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

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.