Jupiter Asset Management Ltd. lowered its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 14.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,197 shares of the construction company’s stock after selling 25,436 shares during the quarter. Jupiter Asset Management Ltd. owned 0.19% of Advanced Drainage Systems worth $21,174,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. Wellington Management Group LLP grew its holdings in Advanced Drainage Systems by 234.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock valued at $164,901,000 after buying an additional 832,929 shares during the last quarter. Interval Partners LP grew its holdings in Advanced Drainage Systems by 98.0% in the 3rd quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock valued at $134,336,000 after buying an additional 479,413 shares during the last quarter. SG Capital Management LLC acquired a new stake in Advanced Drainage Systems in the 3rd quarter valued at approximately $45,591,000. Franklin Resources Inc. grew its holdings in Advanced Drainage Systems by 586.9% in the 3rd quarter. Franklin Resources Inc. now owns 285,810 shares of the construction company’s stock valued at $39,642,000 after buying an additional 244,202 shares during the last quarter. Finally, Capital International Investors grew its holdings in Advanced Drainage Systems by 34.9% in the 3rd quarter. Capital International Investors now owns 933,851 shares of the construction company’s stock valued at $129,525,000 after buying an additional 241,500 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.
Advanced Drainage Systems Price Performance
Advanced Drainage Systems stock opened at $139.12 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. The company has a market capitalization of $10.66 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.33. Advanced Drainage Systems, Inc. has a one year low of $105.14 and a one year high of $179.32. The business has a 50 day simple moving average of $142.19 and a 200 day simple moving average of $149.97.
Advanced Drainage Systems Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.20 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is 13.24%.
Analyst Ratings Changes
A number of analysts have issued reports on the company. KeyCorp lowered their target price on Advanced Drainage Systems from $198.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $168.00 price objective on shares of Advanced Drainage Systems in a report on Friday, May 22nd. Oppenheimer decreased their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird set a $205.00 price objective on Advanced Drainage Systems in a report on Friday, February 6th. Finally, UBS Group decreased their price objective on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and an average target price of $187.00.
Check Out Our Latest Research Report on WMS
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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