Nissay Asset Management Corp Japan ADV Decreases Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Nissay Asset Management Corp Japan ADV lowered its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,695 shares of the construction company’s stock after selling 29,544 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Advanced Drainage Systems were worth $8,864,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Advanced Drainage Systems by 50.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock valued at $11,186,000 after purchasing an additional 32,418 shares in the last quarter. Outlook Wealth Advisors LLC boosted its position in Advanced Drainage Systems by 29.4% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,701 shares of the construction company’s stock valued at $312,000 after buying an additional 613 shares during the last quarter. Foresight Group Ltd Liability Partnership grew its stake in shares of Advanced Drainage Systems by 16.3% during the fourth quarter. Foresight Group Ltd Liability Partnership now owns 7,828 shares of the construction company’s stock valued at $899,000 after acquiring an additional 1,097 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after acquiring an additional 88 shares in the last quarter. Finally, Guinness Asset Management LTD lifted its stake in shares of Advanced Drainage Systems by 38.3% in the fourth quarter. Guinness Asset Management LTD now owns 4,228 shares of the construction company’s stock worth $489,000 after acquiring an additional 1,171 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Down 2.9%

Advanced Drainage Systems stock opened at $118.21 on Friday. Advanced Drainage Systems, Inc. has a 1 year low of $93.92 and a 1 year high of $184.27. The firm’s 50-day moving average is $109.45 and its 200-day moving average is $119.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. The company has a market cap of $9.17 billion, a P/E ratio of 19.77, a PEG ratio of 1.13 and a beta of 1.31.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.18 dividend. This is an increase 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 0.61%. Advanced Drainage Systems’s payout ratio is presently 10.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WMS. Barclays lowered their price objective on Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. KeyCorp dropped their price target on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Stephens reaffirmed an “equal weight” rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price objective for the company. Finally, StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.25.

Advanced Drainage Systems Company 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.