1832 Asset Management L.P. Cuts Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

1832 Asset Management L.P. reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 28.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,443 shares of the construction company’s stock after selling 40,376 shares during the quarter. 1832 Asset Management L.P.’s holdings in Advanced Drainage Systems were worth $16,270,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 worth $26,000 after buying an additional 115 shares during the period. West Oak Capital LLC boosted its holdings in Advanced Drainage Systems by 133.3% during 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 during the period. Blue Trust Inc. grew its position in Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after acquiring an additional 162 shares during the last quarter. Rise Advisors LLC purchased a new stake in Advanced Drainage Systems in the first quarter worth $32,000. Finally, National Bank of Canada FI purchased a new stake in Advanced Drainage Systems in the second quarter worth $45,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

WMS has been the subject of a number of recent analyst reports. Loop Capital lowered their target price 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. Oppenheimer reissued an “outperform” rating and issued a $192.00 price objective on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays lowered their price target on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Robert W. Baird dropped their price objective on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Trading Up 0.9 %

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

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

Advanced Drainage Systems Announces Dividend

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

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.