OP Asset Management Ltd Purchases Shares of 133,989 Advanced Drainage Systems, Inc. $WMS

OP Asset Management Ltd acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 133,989 shares of the construction company’s stock, valued at approximately $18,374,000. OP Asset Management Ltd owned about 0.17% of Advanced Drainage Systems as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $1,239,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Advanced Drainage Systems during the 1st quarter worth $4,763,000. Corient Private Wealth LLC lifted its holdings in shares of Advanced Drainage Systems by 8.5% during the fourth quarter. Corient Private Wealth LLC now owns 352,535 shares of the construction company’s stock worth $51,080,000 after buying an additional 27,692 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $281,000. Finally, Compound Planning Inc. boosted its position in shares of Advanced Drainage Systems by 33.1% in the fourth quarter. Compound Planning Inc. now owns 2,076 shares of the construction company’s stock valued at $301,000 after acquiring an additional 516 shares during the period. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank Of Canada raised 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. Zacks Research downgraded shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 17th. Oppenheimer cut their price target 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. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Monday, April 20th. Finally, UBS Group lowered their price objective on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Advanced Drainage Systems Trading Up 6.2%

Shares of Advanced Drainage Systems stock opened at $148.93 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.42 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 $11.41 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.51 and a beta of 1.29. The firm’s 50-day moving average price is $141.59 and its two-hundred day moving average price is $148.59.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating the consensus estimate 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 company had revenue of $676.76 million during the quarter, compared to analysts’ expectations of $651.92 million. During the same period in the previous year, the company earned $1.03 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 1st. Advanced Drainage Systems’s payout ratio is 14.71%.

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.