HighTower Advisors LLC Buys 21,906 Shares of Advanced Drainage Systems, Inc. $WMS

HighTower Advisors LLC raised its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 406.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,302 shares of the construction company’s stock after acquiring an additional 21,906 shares during the period. HighTower Advisors LLC’s holdings in Advanced Drainage Systems were worth $3,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its stake in shares of Advanced Drainage Systems by 3.1% in the 3rd quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock worth $353,949,000 after purchasing an additional 75,777 shares during the period. First Trust Advisors LP lifted its stake in shares of Advanced Drainage Systems by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 2,416,942 shares of the construction company’s stock worth $335,230,000 after purchasing an additional 238,179 shares during the period. American Century Companies Inc. lifted its stake in shares of Advanced Drainage Systems by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 1,472,176 shares of the construction company’s stock worth $204,191,000 after purchasing an additional 90,106 shares during the period. Wellington Management Group LLP lifted its stake in shares of Advanced Drainage Systems by 234.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after purchasing an additional 832,929 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Advanced Drainage Systems by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,378 shares of the construction company’s stock worth $157,889,000 after purchasing an additional 16,118 shares during the period. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Down 0.7%

Advanced Drainage Systems stock opened at $139.12 on Friday. The firm has a 50 day moving average of $142.19 and a 200 day moving average of $149.97. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 1.54 and a beta of 1.33. Advanced Drainage Systems, Inc. has a 12-month low of $105.14 and a 12-month high of $179.32. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The company had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. As a group, research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. Advanced Drainage Systems’s payout ratio is currently 13.24%.

Analyst Ratings Changes

Several brokerages have recently weighed in on WMS. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. UBS Group lowered their price objective on shares of 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. Oppenheimer lowered their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $168.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, May 22nd. Finally, Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $190.00 to $175.00 in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

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.