Hsbc Holdings PLC Sells 32,590 Shares of Advanced Drainage Systems, Inc. $WMS

Hsbc Holdings PLC cut its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 58.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,956 shares of the construction company’s stock after selling 32,590 shares during the period. Hsbc Holdings PLC’s holdings in Advanced Drainage Systems were worth $3,325,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing an additional 176 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at approximately $36,000. Kestra Advisory Services LLC bought a new position in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $37,000. Clearstead Advisors LLC grew its stake in shares of Advanced Drainage Systems by 150.8% during the fourth quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after buying an additional 181 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter worth approximately $42,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 17th. Barclays decreased their target price on Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Royal Bank Of Canada raised their price target on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Oppenheimer decreased their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Advanced Drainage Systems Trading Up 0.2%

NYSE:WMS opened at $154.77 on Monday. Advanced Drainage Systems, Inc. has a one year low of $109.63 and a one year high of $179.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42. The firm has a market cap of $11.86 billion, a P/E ratio of 28.45, a P/E/G ratio of 1.66 and a beta of 1.29. The firm has a 50-day simple moving average of $141.73 and a 200-day simple moving average of $148.68.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.20 per share. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.80 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is 14.71%.

Advanced Drainage Systems 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.