Perigon Wealth Management LLC Takes $706,000 Position in Advanced Drainage Systems, Inc. $WMS

Perigon Wealth Management LLC acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,500 shares of the construction company’s stock, valued at approximately $706,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WMS. Northwestern Mutual Wealth Management Co. lifted its position 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 acquiring an additional 176 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings 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 purchasing an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Advanced Drainage Systems during the 3rd quarter worth about $36,000. Kestra Advisory Services LLC bought a new position in Advanced Drainage Systems during the 4th quarter worth about $37,000. Finally, Avalon Trust Co acquired a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at about $42,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 1.5%

Shares of WMS stock opened at $146.26 on Thursday. The firm’s fifty day moving average price is $145.94 and its two-hundred day moving average price is $147.41. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems, Inc. has a 1 year low of $128.03 and a 1 year high of $179.32. The firm has a market capitalization of $11.03 billion, a P/E ratio of 25.26, a PEG ratio of 1.58 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.39. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The company’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 EPS. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is 13.82%.

Wall Street Analysts Forecast Growth

WMS has been the topic of a number of research reports. Zacks Research upgraded Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Oppenheimer decreased their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. UBS Group boosted their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a research report on Thursday, June 11th. They set a “buy” rating and a $175.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.38.

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.