Millennium Management LLC Raises Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Millennium Management LLC increased its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 136.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,393 shares of the construction company’s stock after purchasing an additional 180,154 shares during the period. Millennium Management LLC’s holdings in Advanced Drainage Systems were worth $50,105,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Advanced Drainage Systems by 319.4% in the 1st 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 last quarter. West Oak Capital LLC lifted its holdings 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 acquiring an additional 100 shares during the period. Blue Trust Inc. boosted its position in shares of Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $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 valued at approximately $32,000. Finally, National Bank of Canada FI acquired a new position in Advanced Drainage Systems during the second quarter worth approximately $45,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Advanced Drainage Systems Price Performance

WMS stock opened at $157.08 on Tuesday. The stock has a 50-day simple moving average of $154.34 and a 200-day simple moving average of $162.31. The firm has a market cap of $12.18 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 1.36 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, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

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.