Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Algert Global LLC

Algert Global LLC grew its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 18.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,444 shares of the construction company’s stock after acquiring an additional 9,217 shares during the period. Algert Global LLC’s holdings in Advanced Drainage Systems were worth $9,695,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Advanced Drainage Systems by 319.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after purchasing an additional 115 shares during the last quarter. West Oak Capital LLC raised its position in shares of Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. raised its position in shares of Advanced Drainage Systems by 1,472.7% during the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after purchasing an additional 162 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth about $32,000. Finally, National Bank of Canada FI acquired a new position in shares of Advanced Drainage Systems during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $160.29 on Friday. The firm has a 50 day simple moving average of $154.63 and a 200-day simple moving average of $162.35. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.30 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.08. The business had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. On average, analysts expect that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.40%. Advanced Drainage Systems’s payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Oppenheimer reaffirmed an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Barclays dropped their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Robert W. Baird dropped their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.14.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.