Assenagon Asset Management S.A. Makes New Investment in Advanced Drainage Systems, Inc. $WMS

Assenagon Asset Management S.A. bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,032 shares of the construction company’s stock, valued at approximately $1,239,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Advanced Drainage Systems by 352.0% during the second 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. Baird Financial Group Inc. grew its stake in shares of Advanced Drainage Systems by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 21,049 shares of the construction company’s stock valued at $2,418,000 after buying an additional 382 shares during the period. Brown Advisory Inc. increased its holdings in shares of Advanced Drainage Systems by 14.0% during the 2nd quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company’s stock worth $549,000 after buying an additional 588 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Advanced Drainage Systems during the 2nd quarter worth approximately $403,000. Finally, California Public Employees Retirement System increased its holdings in shares of Advanced Drainage Systems by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 101,512 shares of the construction company’s stock worth $11,660,000 after buying an additional 2,206 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $150.96 on Thursday. Advanced Drainage Systems, Inc. has a fifty-two week low of $109.63 and a fifty-two week 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 company has a 50 day moving average price of $141.90 and a 200 day moving average price of $148.80. The stock has a market capitalization of $11.57 billion, a P/E ratio of 27.75, a PEG ratio of 1.69 and a beta of 1.26.

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

Advanced Drainage Systems Increases Dividend

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

Analyst Upgrades and Downgrades

WMS has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. Jefferies Financial Group began coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They set a “buy” rating and a $175.00 target price for the company. Royal Bank Of Canada lifted their target price on Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 17th. Finally, Barclays lowered their price target on Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.75.

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.