Advanced Drainage Systems, Inc. $WMS Shares Purchased by Capital World Investors

Capital World Investors raised its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 161.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,645 shares of the construction company’s stock after purchasing an additional 36,216 shares during the period. Capital World Investors’ holdings in Advanced Drainage Systems were worth $8,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Advanced Drainage Systems in the 2nd quarter valued at about $90,989,000. SG Capital Management LLC acquired a new stake in Advanced Drainage Systems during the third quarter worth about $45,591,000. Capital International Investors raised its stake in Advanced Drainage Systems by 34.9% during the third quarter. Capital International Investors now owns 933,851 shares of the construction company’s stock worth $129,525,000 after acquiring an additional 241,500 shares during the period. Squarepoint Ops LLC lifted its holdings in Advanced Drainage Systems by 1,209.7% in the second quarter. Squarepoint Ops LLC now owns 260,607 shares of the construction company’s stock worth $29,933,000 after acquiring an additional 240,709 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Advanced Drainage Systems by 10.9% in the third quarter. First Trust Advisors LP now owns 2,416,942 shares of the construction company’s stock valued at $335,230,000 after acquiring an additional 238,179 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WMS shares. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the stock a “buy” rating in a research report on Friday, February 6th. Oppenheimer boosted their price objective on Advanced Drainage Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Royal Bank Of Canada upped their price objective on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a research note on Friday, February 6th. Finally, Barclays boosted their price target on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.00.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $138.84 on Friday. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $160.05 and its 200 day moving average price is $149.84. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $179.32. The firm has a market cap of $10.82 billion, a P/E ratio of 23.10, a PEG ratio of 1.74 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.16. The company had revenue of $693.35 million during the quarter, compared to analyst estimates of $686.37 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. As a group, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is currently 11.98%.

About Advanced Drainage Systems

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.