PNC Financial Services Group Inc. decreased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,200 shares of the construction company’s stock after selling 4,289 shares during the period. PNC Financial Services Group Inc.’s holdings in Advanced Drainage Systems were worth $40,437,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in WMS. Wellington Management Group LLP increased its position in 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 buying an additional 832,929 shares during the period. Interval Partners LP grew its holdings in shares of Advanced Drainage Systems by 98.0% during the 3rd quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock worth $134,336,000 after purchasing an additional 479,413 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth $45,591,000. Franklin Resources Inc. grew its holdings in shares of Advanced Drainage Systems by 586.9% during the 3rd quarter. Franklin Resources Inc. now owns 285,810 shares of the construction company’s stock worth $39,642,000 after purchasing an additional 244,202 shares in the last quarter. Finally, Capital International Investors grew its holdings in shares of Advanced Drainage Systems by 34.9% during the 3rd quarter. Capital International Investors now owns 933,851 shares of the construction company’s stock worth $129,525,000 after purchasing an additional 241,500 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.
Advanced Drainage Systems Stock Performance
Advanced Drainage Systems stock opened at $135.30 on Friday. Advanced Drainage Systems, Inc. has a 12-month low of $105.14 and a 12-month high of $179.32. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $142.50 and its two-hundred day moving average price is $150.18. The stock has a market cap of $10.54 billion, a PE ratio of 22.51, a P/E/G ratio of 1.43 and a beta of 1.33.
Advanced Drainage Systems Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.20 dividend. 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 yield of 0.6%. The ex-dividend date is Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 11.98%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. KeyCorp increased their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. UBS Group set a $215.00 target price on Advanced Drainage Systems and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada increased their target price on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.83.
Get Our Latest Research Report on Advanced Drainage Systems
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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