Advanced Drainage Systems (NYSE:WMS) Reaches New 12-Month Low – Here’s What Happened

Advanced Drainage Systems, Inc. (NYSE:WMS)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $124.39 and last traded at $125.1320, with a volume of 157580 shares. The stock had previously closed at $130.07.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Stephens reissued an “overweight” rating and issued a $175.00 price objective on shares of Advanced Drainage Systems in a research report on Monday, September 21st. National Bank Financial set a $190.00 target price on shares of Advanced Drainage Systems in a report on Monday, August 24th. Royal Bank Of Canada raised their target price on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Finally, Barclays lifted their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.70.

Advanced Drainage Systems Stock Performance

The company has a fifty day moving average of $135.76 and a two-hundred day moving average of $140.47. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, topping 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 net margin of 14.00% and a return on equity of 28.28%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 EPS. As a group, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid 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 was Tuesday, September 1st. Advanced Drainage Systems’s dividend payout ratio is presently 13.82%.

Hedge Funds Weigh In On Advanced Drainage Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Advanced Drainage Systems in the second quarter valued at approximately $1,172,482,000. Pictet Asset Management Holding SA boosted its holdings in shares of Advanced Drainage Systems by 32.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after purchasing an additional 546,298 shares in the last quarter. Amundi lifted its position in shares of Advanced Drainage Systems by 5.1% during the 2nd quarter. Amundi now owns 1,354,610 shares of the construction company’s stock worth $212,681,000 after buying an additional 65,938 shares during the last quarter. KBC Group NV lifted its holdings in shares of Advanced Drainage Systems by 1.7% in the first quarter. KBC Group NV now owns 916,981 shares of the construction company’s stock worth $125,746,000 after acquiring an additional 14,915 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at approximately $106,800,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE:WMS) designs and manufactures water management solutions for infrastructure, construction, agriculture and residential applications. The company is best known for its thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater.

Its product portfolio includes stormwater detention and treatment systems, drainage pipe, septic wastewater systems, fittings, chambers, pumps and other water management components. Advanced Drainage Systems also provides products for agricultural drainage, commercial and residential construction, and large-scale infrastructure projects.

Founded in 1966 and headquartered in Hilliard, Ohio, the company serves customers primarily across North America through manufacturing facilities, distribution centers and a network of independent distributors.