Hsbc Holdings PLC Cuts Holdings in Advanced Drainage Systems, Inc. $WMS

Hsbc Holdings PLC cut its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 58.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

A number of other large investors have also added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares during the period. Baird Financial Group Inc. grew its stake in shares of Advanced Drainage Systems by 1.8% during the 2nd quarter. Baird Financial Group Inc. now owns 21,049 shares of the construction company’s stock valued at $2,418,000 after acquiring an additional 382 shares during the period. Brown Advisory Inc. increased its holdings in Advanced Drainage Systems by 14.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company’s stock worth $549,000 after acquiring an additional 588 shares in the last quarter. Jump Financial LLC purchased a new stake in Advanced Drainage Systems in the 2nd quarter worth approximately $403,000. Finally, California Public Employees Retirement System raised its stake in 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 acquiring an additional 2,206 shares during the period. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Up 2.1%

Shares of Advanced Drainage Systems stock opened at $150.89 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92. Advanced Drainage Systems, Inc. has a twelve month low of $109.63 and a twelve month high of $179.32. The business has a 50-day moving average price of $141.67 and a 200-day moving average price of $148.90. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.59 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is presently 14.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Royal Bank Of Canada increased their price objective 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. Zacks Research downgraded shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

About Advanced Drainage Systems

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.