Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 42.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 40,057 shares of the construction company’s stock after selling 29,392 shares during the period. Hsbc Holdings PLC’s holdings in Advanced Drainage Systems were worth $6,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares in the last quarter. West Oak Capital LLC grew its position in Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. increased its stake in Advanced Drainage Systems by 1,472.7% during the second 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 period. Rise Advisors LLC acquired a new stake in shares of Advanced Drainage Systems during the first quarter worth about $32,000. Finally, National Bank of Canada FI purchased a new position in shares of Advanced Drainage Systems in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS opened at $153.82 on Tuesday. The stock’s 50-day simple moving average is $155.87 and its 200-day simple moving average is $162.52. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. The firm has a market capitalization of $11.92 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. Advanced Drainage Systems, Inc. has a fifty-two week low of $102.32 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The company had revenue of $815.34 million for the quarter, compared to analysts’ expectations of $828.00 million. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 0.42%. Advanced Drainage Systems’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

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

Advanced Drainage Systems Company Profile

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.