Kornitzer Capital Management Inc. KS Has $15.14 Million Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

by · The Markets Daily

Kornitzer Capital Management Inc. KS raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,350 shares of the construction company’s stock after buying an additional 825 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.12% of Advanced Drainage Systems worth $15,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Advanced Drainage Systems by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after acquiring an additional 395,099 shares during the period. Boston Partners raised its holdings in Advanced Drainage Systems by 16.9% in the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock worth $261,609,000 after purchasing an additional 219,629 shares during the period. William Blair Investment Management LLC boosted its position in shares of Advanced Drainage Systems by 4.7% during the second quarter. William Blair Investment Management LLC now owns 1,430,091 shares of the construction company’s stock worth $229,372,000 after purchasing an additional 64,618 shares in the last quarter. Swedbank AB grew its holdings in shares of Advanced Drainage Systems by 5.8% in the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock valued at $217,553,000 after buying an additional 75,455 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Advanced Drainage Systems by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,382,735 shares of the construction company’s stock valued at $221,777,000 after buying an additional 7,690 shares during the period. Institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the topic of several recent analyst reports. Loop Capital reduced their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Oppenheimer reiterated an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Barclays lowered their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird cut their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.14.

Check Out Our Latest Stock Analysis on WMS

Advanced Drainage Systems Stock Down 1.1 %

Shares of WMS traded down $1.83 during mid-day trading on Thursday, hitting $161.69. 29,729 shares of the company’s stock were exchanged, compared to its average volume of 481,731. The company has a 50-day simple moving average of $151.98 and a 200 day simple moving average of $159.91. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The company has a market cap of $12.53 billion, a PE ratio of 25.87, a P/E/G ratio of 1.29 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 52 week low of $110.31 and a 52 week high of $184.27.

Advanced Drainage Systems (NYSE:WMS – Get Free Report) last released its earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $815.34 million during the quarter, compared to the consensus estimate of $828.00 million. On average, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

About Advanced Drainage Systems

(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.

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