Quantinno Capital Management LP raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 5.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 213,971 shares of the construction company’s stock after purchasing an additional 11,693 shares during the quarter. Quantinno Capital Management LP’s holdings in Advanced Drainage Systems were worth $29,342,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $156,587,000. Wellington Management Group LLP increased its holdings in shares of Advanced Drainage Systems by 234.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after acquiring an additional 832,929 shares during the last quarter. Amundi raised its stake in Advanced Drainage Systems by 80.9% in the 4th quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after acquiring an additional 572,193 shares during the period. Pictet Asset Management Holding SA raised its stake in Advanced Drainage Systems by 32.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after acquiring an additional 546,298 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in Advanced Drainage Systems by 875.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 458,910 shares of the construction company’s stock valued at $66,464,000 after acquiring an additional 411,883 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on WMS shares. Zacks Research raised shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Barclays raised their target price on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Oppenheimer reduced their target price on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. Finally, Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $190.00 to $175.00 in a research note on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.
Advanced Drainage Systems Stock Performance
NYSE:WMS opened at $138.75 on Friday. The stock has a 50 day simple moving average of $142.91 and a 200 day simple moving average of $148.33. The stock has a market cap of $10.63 billion, a P/E ratio of 25.51, a PEG ratio of 1.48 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 1-year low of $110.85 and a 1-year high of $179.32. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92.
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The firm had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. During the same period in the prior year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.
Advanced Drainage Systems Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 14.71%.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.
The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.
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