Handelsbanken Fonder AB Grows Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Handelsbanken Fonder AB increased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,958 shares of the construction company’s stock after purchasing an additional 5,830 shares during the quarter. Handelsbanken Fonder AB’s holdings in Advanced Drainage Systems were worth $2,538,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in shares of Advanced Drainage Systems by 8.8% during the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock worth $399,452,000 after purchasing an additional 206,105 shares in the last quarter. Swedbank AB grew its position in shares of Advanced Drainage Systems by 5.8% during the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after purchasing an additional 75,455 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Advanced Drainage Systems by 5.2% during the third quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company’s stock worth $186,578,000 after purchasing an additional 59,158 shares in the last quarter. KBC Group NV grew its position in shares of Advanced Drainage Systems by 21.2% during the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock worth $85,399,000 after purchasing an additional 129,252 shares in the last quarter. Finally, abrdn plc grew its position in shares of Advanced Drainage Systems by 28.5% during the third quarter. abrdn plc now owns 579,485 shares of the construction company’s stock worth $91,683,000 after purchasing an additional 128,539 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $114.06 on Tuesday. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.13 and a beta of 1.52. Advanced Drainage Systems, Inc. has a 1 year low of $110.75 and a 1 year high of $184.27. The business has a 50 day simple moving average of $119.82 and a 200-day simple moving average of $136.78. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, February 28th. Advanced Drainage Systems’s payout ratio is 10.70%.

Wall Street Analyst Weigh In

WMS has been the subject of a number of research reports. Loop Capital dropped their price target on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, February 7th. KeyCorp dropped their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Wednesday, January 8th. Stephens reissued an “equal weight” rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Finally, Robert W. Baird dropped their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and an average target price of $164.25.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.