Man Group plc Buys Shares of 51,226 Advanced Drainage Systems, Inc. $WMS

by · The Markets Daily

Man Group plc purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 51,226 shares of the construction company’s stock, valued at approximately $8,040,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at approximately $56,805,000. Hsbc Holdings PLC acquired a new position in Advanced Drainage Systems in the second quarter valued at approximately $3,372,000. PDT Partners LLC purchased a new position in Advanced Drainage Systems in the second quarter worth approximately $4,499,000. Legal & General Group Plc purchased a new position in Advanced Drainage Systems in the second quarter worth approximately $38,171,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Advanced Drainage Systems during the second quarter worth $8,184,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WMS. Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a research report on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price on the stock. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. UBS Group boosted their price objective on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a report on Friday, August 7th. Oppenheimer decreased their target price on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 26th. Finally, Robert W. Baird set a $206.00 target price on shares of Advanced Drainage Systems in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.70.

Read Our Latest Stock Report on Advanced Drainage Systems

Advanced Drainage Systems Stock Down 1.2%

Advanced Drainage Systems stock opened at $137.11 on Friday. The company has a market capitalization of $10.34 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27. 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, Inc. has a fifty-two week low of $128.03 and a fifty-two week high of $179.32. The firm has a 50 day moving average price of $145.99 and a 200 day moving average price of $146.47.

Advanced Drainage Systems (NYSE:WMS – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

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

Advanced Drainage Systems Profile

(Free Report)

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.

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