Bank of New York Mellon Corp Purchases 29,037 Shares of Advanced Drainage Systems, Inc. $WMS

Bank of New York Mellon Corp increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 5.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 519,242 shares of the construction company’s stock after buying an additional 29,037 shares during the period. Bank of New York Mellon Corp’s holdings in Advanced Drainage Systems were worth $71,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 acquiring an additional 176 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Advanced Drainage Systems by 1.8% in the second 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. lifted its stake in Advanced Drainage Systems by 14.0% in the second quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company’s stock valued at $549,000 after buying an additional 588 shares during the period. Jump Financial LLC bought a new position in shares of Advanced Drainage Systems during the 2nd quarter worth approximately $403,000. Finally, California Public Employees Retirement System boosted 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 in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 2.0%

Advanced Drainage Systems stock opened at $141.65 on Thursday. The firm has a 50 day simple moving average of $142.14 and a 200 day simple moving average of $148.83. 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 $110.85 and a 1-year high of $179.32. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 1.50 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results 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 firm 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 business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.20 per share. This is a positive change 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 dividend on an annualized basis and a yield of 0.6%. Advanced Drainage Systems’s payout ratio is currently 14.71%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Zacks Research cut Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. Finally, UBS Group reduced their target price on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, May 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 MarketBeat.com, the stock presently 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.