Owls Nest Partners IA LLC cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 40.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,302 shares of the construction company’s stock after selling 124,233 shares during the period. Advanced Drainage Systems comprises approximately 7.2% of Owls Nest Partners IA LLC’s investment portfolio, making the stock its 7th largest holding. Owls Nest Partners IA LLC’s holdings in Advanced Drainage Systems were worth $25,968,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Advanced Drainage Systems during the third quarter valued at about $36,000. Kestra Advisory Services LLC bought a new position in shares of Advanced Drainage Systems during the fourth quarter valued at about $37,000. Los Angeles Capital Management LLC purchased a new position in Advanced Drainage Systems during the fourth quarter worth about $42,000. Finally, Clearstead Advisors LLC grew its position in Advanced Drainage Systems by 150.8% in the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock worth $44,000 after purchasing an additional 181 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
WMS has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. Oppenheimer reduced their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, May 26th. KeyCorp decreased their target price on Advanced Drainage Systems from $198.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.75.
Advanced Drainage Systems Trading Down 0.2%
NYSE:WMS opened at $134.66 on Monday. Advanced Drainage Systems, Inc. has a 12 month low of $109.63 and a 12 month 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. The firm’s 50 day moving average is $141.75 and its 200 day moving average is $149.12. The stock has a market capitalization of $10.32 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29.
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. During the same period in the prior year, the company earned $1.03 earnings per share. Advanced Drainage Systems’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.
Advanced Drainage Systems Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. Advanced Drainage Systems’s dividend payout ratio is currently 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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