Oppenheimer & Co. Inc. lifted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 81.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 12,990 shares of the construction company’s stock after buying an additional 5,818 shares during the period. Oppenheimer & Co. Inc.’s holdings in Advanced Drainage Systems were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in WMS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Advanced Drainage Systems by 63.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company’s stock worth $238,659,000 after purchasing an additional 799,569 shares during the period. Norges Bank bought a new position in shares of Advanced Drainage Systems in the 4th quarter worth approximately $86,185,000. First Trust Advisors LP lifted its stake in shares of Advanced Drainage Systems by 45.8% in the 4th quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company’s stock worth $200,315,000 after purchasing an additional 544,109 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in Advanced Drainage Systems during the 4th quarter worth approximately $46,997,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Advanced Drainage Systems in the fourth quarter valued at $42,160,000. Institutional investors own 89.83% of the company’s stock.
Advanced Drainage Systems Trading Up 0.2%
Advanced Drainage Systems stock opened at $116.01 on Friday. The stock has a market cap of $9.01 billion, a PE ratio of 20.14, a P/E/G ratio of 1.68 and a beta of 1.25. The stock has a 50-day moving average price of $114.00 and a 200 day moving average price of $114.70. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $179.57. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90.
Advanced Drainage Systems Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.18 dividend. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.62%. Advanced Drainage Systems’s payout ratio is 12.50%.
Analyst Upgrades and Downgrades
WMS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price on the stock. Wall Street Zen downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Robert W. Baird dropped their price target on Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Loop Capital dropped their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Finally, UBS Group dropped their price objective on Advanced Drainage Systems from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.88.
Read Our Latest Research Report on Advanced Drainage Systems
Advanced Drainage Systems Company 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.
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