Elevatus Welath Management Invests $2.60 Million in Advanced Drainage Systems, Inc. $WMS

Elevatus Welath Management bought a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the fourth quarter, Holdings Channel.com reports. The fund bought 17,954 shares of the construction company’s stock, valued at approximately $2,600,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WMS. Cetera Investment Advisers raised its stake in Advanced Drainage Systems by 12.6% in the second quarter. Cetera Investment Advisers now owns 17,274 shares of the construction company’s stock worth $1,984,000 after buying an additional 1,929 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Advanced Drainage Systems by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 665,991 shares of the construction company’s stock worth $76,496,000 after buying an additional 8,610 shares during the period. Prudential Financial Inc. boosted its position in Advanced Drainage Systems by 31.3% during the 2nd quarter. Prudential Financial Inc. now owns 7,200 shares of the construction company’s stock valued at $827,000 after acquiring an additional 1,715 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Advanced Drainage Systems by 1.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 180,837 shares of the construction company’s stock valued at $20,791,000 after acquiring an additional 2,949 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Advanced Drainage Systems by 3.4% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 13,957 shares of the construction company’s stock worth $1,603,000 after acquiring an additional 453 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 1.3%

Shares of NYSE:WMS opened at $132.61 on Friday. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $156.06 and a two-hundred day simple moving average of $149.17. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $179.32. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.58 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.16. The firm had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. On average, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is 11.98%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WMS. UBS Group set a $215.00 target price on Advanced Drainage Systems and gave the stock a “buy” rating in a research report on Friday, February 6th. Oppenheimer upped their price target on Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Robert W. Baird set a $205.00 price objective on Advanced Drainage Systems in a report on Friday, February 6th. Barclays raised their price objective on Advanced Drainage Systems from $187.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.00.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.