The Manufacturers Life Insurance Company Purchases New Holdings in Advanced Drainage Systems, Inc. $WMS

The Manufacturers Life Insurance Company acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 52,138 shares of the construction company’s stock, valued at approximately $8,184,000. The Manufacturers Life Insurance Company owned 0.07% of Advanced Drainage Systems at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP acquired a new stake in shares of Advanced Drainage Systems during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. increased its stake in Advanced Drainage Systems by 352.0% in the 2nd 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 during the period. SJS Investment Consulting Inc. raised its position in Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after buying an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Advanced Drainage Systems during the 3rd quarter worth $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Advanced Drainage Systems in the 4th quarter worth $37,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. National Bank Financial set a $190.00 price target on shares of Advanced Drainage Systems in a research note on Monday, August 24th. Robert W. Baird set a $206.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. UBS Group increased their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Barclays raised their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and an average target price of $188.70.

Advanced Drainage Systems Trading Up 0.1%

Shares of WMS opened at $137.11 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.12 and a quick ratio of 1.18. Advanced Drainage Systems, Inc. has a 1-year low of $128.03 and a 1-year high of $179.32. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The firm has a 50 day simple moving average of $145.99 and a 200-day simple moving average of $146.29.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.39. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.Advanced Drainage Systems’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 13.82%.

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.