Advanced Drainage Systems, Inc. $WMS Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,401 shares of the construction company’s stock after selling 6,259 shares during the quarter. Rockefeller Capital Management L.P. owned 0.07% of Advanced Drainage Systems worth $7,589,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position 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 valued at $26,000 after buying an additional 176 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at approximately $36,000. Kestra Advisory Services LLC purchased a new position in shares of Advanced Drainage Systems during the 4th quarter valued at approximately $37,000. Los Angeles Capital Management LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter valued at $42,000. Finally, Clearstead Advisors LLC grew its stake in Advanced Drainage Systems by 150.8% in the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS opened at $155.15 on Friday. The firm has a 50-day simple moving average of $141.59 and a 200-day simple moving average of $148.64. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. Advanced Drainage Systems, Inc. has a 52 week low of $109.63 and a 52 week high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. The business had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. On average, equities analysts predict 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 disclosed 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. The ex-dividend date was Monday, June 1st. 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 yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 14.71%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank Of Canada increased 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. Jefferies Financial Group initiated 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. 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. Barclays decreased their price target on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Oppenheimer cut their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.75.

Advanced Drainage Systems 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.