ProShare Advisors LLC Cuts Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

ProShare Advisors LLC lowered its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.6% in the second quarter, Holdings Channel reports. The firm owned 3,213 shares of the construction company’s stock after selling 120 shares during the period. ProShare Advisors LLC’s holdings in Advanced Drainage Systems were worth $515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Advanced Drainage Systems by 319.4% during 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 position 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 worth $28,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. increased its holdings 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 purchasing an additional 162 shares in the last quarter. Rise Advisors LLC purchased a new position in Advanced Drainage Systems in the first quarter valued at about $32,000. Finally, National Bank of Canada FI acquired a new position in shares of Advanced Drainage Systems during the second quarter worth about $45,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $157.08 on Tuesday. 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, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27. The firm’s 50-day simple moving average is $154.34 and its 200-day simple moving average is $162.31. The firm has a market cap of $12.18 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.53.

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

Advanced Drainage Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued 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 0.41%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analyst Weigh In

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

Advanced Drainage Systems 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.