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

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 34,732 shares of the construction company’s stock, valued at approximately $4,763,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings 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 valued at $26,000 after purchasing an additional 176 shares during the period. Baird Financial Group Inc. raised its stake in shares of 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 worth $2,418,000 after buying an additional 382 shares during the period. Brown Advisory Inc. lifted its position 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 valued at $549,000 after buying an additional 588 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at about $403,000. Finally, California Public Employees Retirement System grew its stake 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 valued at $11,660,000 after acquiring an additional 2,206 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Down 4.0%

Shares of WMS opened at $141.18 on Tuesday. The business’s 50 day moving average is $141.80 and its 200 day moving average is $148.69. 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 12-month low of $109.63 and a 12-month high of $179.32. The company has a market capitalization of $10.82 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share 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 during the quarter, compared to the consensus estimate of $651.92 million. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. 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. Investors of record on Monday, June 1st were given a dividend of $0.20 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WMS. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday. Royal Bank Of Canada upped 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 report on Monday, June 8th. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. Finally, Barclays decreased their price objective on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.