CIBC Asset Management Inc Increases Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

CIBC Asset Management Inc raised its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,271 shares of the construction company’s stock after acquiring an additional 79 shares during the quarter. CIBC Asset Management Inc’s holdings in Advanced Drainage Systems were worth $357,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Blue Trust Inc. boosted its stake in Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after acquiring an additional 162 shares in the last quarter. West Oak Capital LLC boosted its position in shares of 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 purchasing an additional 100 shares during the period. National Bank of Canada FI purchased a new position in Advanced Drainage Systems during the 2nd quarter worth approximately $45,000. Huntington National Bank increased its position in Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after buying an additional 213 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Advanced Drainage Systems by 65.2% in the second quarter. GAMMA Investing LLC now owns 451 shares of the construction company’s stock valued at $72,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WMS. KeyCorp lowered their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Loop Capital decreased their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Robert W. Baird reduced their target price on shares of 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. Oppenheimer lowered their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Barclays reduced their price objective on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.29.

Advanced Drainage Systems Trading Up 0.0 %

Shares of Advanced Drainage Systems stock opened at $128.41 on Friday. The company has a 50-day moving average of $149.26 and a two-hundred day moving average of $157.89. Advanced Drainage Systems, Inc. has a 12-month low of $117.97 and a 12-month high of $184.27. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97. The stock has a market cap of $9.95 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.23). The firm had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 earnings per share. On average, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.19%.

Advanced Drainage Systems Profile

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.