Bank of New York Mellon Corp Decreases Stock Holdings in Advanced Drainage Systems, Inc. $WMS

Bank of New York Mellon Corp lowered its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 556,240 shares of the construction company’s stock after selling 24,624 shares during the period. Bank of New York Mellon Corp owned approximately 0.72% of Advanced Drainage Systems worth $63,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WMS. Teacher Retirement System of Texas boosted its stake in shares of Advanced Drainage Systems by 97.6% in the first quarter. Teacher Retirement System of Texas now owns 10,769 shares of the construction company’s stock valued at $1,170,000 after purchasing an additional 5,319 shares during the period. Fiduciary Alliance LLC acquired a new position in Advanced Drainage Systems in the 2nd quarter worth $203,000. Truist Financial Corp purchased a new position in Advanced Drainage Systems in the 2nd quarter valued at about $211,000. Trexquant Investment LP purchased a new position in Advanced Drainage Systems in the 1st quarter valued at about $1,591,000. Finally, United Services Automobile Association acquired a new stake in shares of Advanced Drainage Systems during the first quarter valued at about $493,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $148.12 on Monday. The company has a quick ratio of 2.25, a current ratio of 3.22 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average of $141.33 and a two-hundred day moving average of $127.54. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $153.25. The company has a market cap of $11.52 billion, a P/E ratio of 26.74, a PEG ratio of 1.88 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.27. Advanced Drainage Systems had a return on equity of 29.57% and a net margin of 14.82%.The business had revenue of $850.38 million for the quarter, compared to analysts’ expectations of $802.49 million. During the same period in the prior year, the firm earned $1.70 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Advanced Drainage Systems has set its FY 2026 guidance at EPS. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s payout ratio is 12.29%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank Of Canada boosted their price target on Advanced Drainage Systems from $158.00 to $168.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird set a $166.00 target price on Advanced Drainage Systems in a research note on Friday, August 8th. UBS Group reissued a “buy” rating and set a $167.00 price target (up previously from $146.00) on shares of Advanced Drainage Systems in a research report on Friday, August 8th. Wall Street Zen raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.56.

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.