Advanced Drainage Systems, Inc. $WMS Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 45.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,719 shares of the construction company’s stock after selling 5,526 shares during the quarter. Absher Wealth Management LLC’s holdings in Advanced Drainage Systems were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in shares of Advanced Drainage Systems by 406.0% in the 4th quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company’s stock worth $3,954,000 after acquiring an additional 21,906 shares during the period. Pier Capital LLC raised its holdings in Advanced Drainage Systems by 69,891.7% during the fourth quarter. Pier Capital LLC now owns 50,394 shares of the construction company’s stock worth $7,299,000 after purchasing an additional 50,322 shares in the last quarter. J. Safra Sarasin Holding AG lifted its position in Advanced Drainage Systems by 22.5% in the fourth quarter. J. Safra Sarasin Holding AG now owns 166,469 shares of the construction company’s stock valued at $24,110,000 after purchasing an additional 30,557 shares during the period. Elevatus Welath Management acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at about $2,600,000. Finally, Mirabaud Asset Management Ltd purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at approximately $3,283,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 0.3%

Shares of NYSE WMS opened at $150.89 on Monday. 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 $11.56 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. The firm’s 50-day moving average is $141.67 and its two-hundred day moving average is $148.90.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data 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. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The business had revenue of $676.76 million during the quarter, compared to analysts’ expectations of $651.92 million. During the same period last year, the company posted $1.03 EPS. The company’s revenue was up 9.9% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 14.71%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WMS shares. UBS Group dropped their target price on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $190.00 to $175.00 in a research note on Wednesday, May 27th. Royal Bank Of Canada upped their price objective on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Monday, April 20th. Finally, KeyCorp reissued 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.