Fifth Third Bancorp Has $9.98 Million Stock Holdings in Advanced Drainage Systems, Inc. $WMS

Fifth Third Bancorp boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 51.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 72,766 shares of the construction company’s stock after purchasing an additional 24,863 shares during the period. Fifth Third Bancorp owned about 0.09% of Advanced Drainage Systems worth $9,978,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC raised its stake in Advanced Drainage Systems by 61.6% in the first quarter. Hsbc Holdings PLC now owns 37,093 shares of the construction company’s stock valued at $5,053,000 after buying an additional 14,137 shares during the period. Accredited Investors Inc. acquired a new stake in shares of Advanced Drainage Systems in the first quarter valued at approximately $330,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Advanced Drainage Systems by 3.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,743 shares of the construction company’s stock worth $2,022,000 after acquiring an additional 439 shares during the period. Praxis Investment Management Inc. boosted its stake in shares of Advanced Drainage Systems by 7.0% during the 1st quarter. Praxis Investment Management Inc. now owns 2,130 shares of the construction company’s stock worth $292,000 after acquiring an additional 140 shares during the period. Finally, Oxbow Advisors LLC acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth approximately $3,183,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 0.3%

NYSE WMS opened at $151.49 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. Advanced Drainage Systems, Inc. has a 1-year low of $109.63 and a 1-year high of $179.32. The company has a 50 day moving average of $141.86 and a 200-day moving average of $148.91. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.63 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (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 business had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. During the same quarter in the prior year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.55 earnings per share 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. Stockholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This is an increase 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 dividend yield of 0.5%. Advanced Drainage Systems’s payout ratio is currently 14.71%.

Analysts Set New Price Targets

WMS has been the topic of a number of research analyst reports. Oppenheimer dropped their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. UBS Group decreased their price objective 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. Zacks Research lowered shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. Jefferies Financial Group assumed coverage on shares of 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. Finally, Barclays lifted their target price on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average target price of $187.00.

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.