Zacks Investment Research upgraded shares of Advanced Drainage Systems, Inc. (NYSE:WMS) from a sell rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. Advanced Drainage Systems, Inc. is headquartered in Hilliard, Ohio. “

WMS has been the subject of several other research reports. BidaskClub raised Advanced Drainage Systems from a sell rating to a hold rating in a research note on Wednesday, August 9th. ValuEngine lowered Advanced Drainage Systems from a hold rating to a sell rating in a research note on Tuesday, August 8th. Robert W. Baird reissued a buy rating and set a $25.00 price objective on shares of Advanced Drainage Systems in a research note on Wednesday. Finally, Boenning Scattergood reissued a hold rating on shares of Advanced Drainage Systems in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $24.00.

Advanced Drainage Systems (WMS) opened at 20.10 on Thursday. Advanced Drainage Systems has a 12-month low of $18.40 and a 12-month high of $26.30. The stock’s 50 day moving average price is $20.06 and its 200-day moving average price is $20.83. The firm has a market cap of $1.11 billion, a PE ratio of 40.77 and a beta of 0.94.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.06). The business had revenue of $358.36 million for the quarter, compared to the consensus estimate of $372.63 million. Advanced Drainage Systems had a net margin of 2.50% and a return on equity of 62.10%. Advanced Drainage Systems’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. Equities research analysts anticipate that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.39%. The ex-dividend date was Wednesday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 60.87%.

In other news, major shareholder Berkshire Partners Holdings Ll purchased 3,446,293 shares of the company’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $20.32 per share, with a total value of $70,028,673.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert M. Klein sold 20,000 shares of Advanced Drainage Systems stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $20.77, for a total value of $415,400.00. Following the sale, the executive vice president now directly owns 340,205 shares of the company’s stock, valued at approximately $7,066,057.85. The disclosure for this sale can be found here. Insiders own 21.43% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Berkshire Partners LLC bought a new stake in Advanced Drainage Systems during the second quarter worth about $41,534,000. First Trust Advisors LP lifted its stake in Advanced Drainage Systems by 28.4% during the second quarter. First Trust Advisors LP now owns 265,679 shares of the construction company’s stock worth $5,340,000 after purchasing an additional 58,820 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Advanced Drainage Systems during the first quarter worth about $4,801,000. Wells Fargo & Company MN lifted its stake in Advanced Drainage Systems by 19.3% during the first quarter. Wells Fargo & Company MN now owns 32,136 shares of the construction company’s stock worth $703,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Advanced Drainage Systems by 7.1% during the first quarter. Principal Financial Group Inc. now owns 30,454 shares of the construction company’s stock worth $667,000 after purchasing an additional 2,023 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.

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