First Trust Advisors LP Reduces Stake in Advanced Drainage Systems, Inc. $WMS

by · The Markets Daily

First Trust Advisors LP reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS – Free Report) by 15.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,044,057 shares of the construction company’s stock after selling 378,619 shares during the period. First Trust Advisors LP owned about 2.62% of Advanced Drainage Systems worth $280,301,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Advanced Drainage Systems in the 4th quarter worth approximately $156,587,000. Wellington Management Group LLP grew its holdings in Advanced Drainage Systems by 234.0% during the third quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock valued at $164,901,000 after purchasing an additional 832,929 shares during the period. Amundi grew its holdings in Advanced Drainage Systems by 80.9% during the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after purchasing an additional 572,193 shares during the period. Pictet Asset Management Holding SA grew its holdings in Advanced Drainage Systems by 32.9% during the first 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 during the period. Finally, Balyasny Asset Management L.P. increased its position in Advanced Drainage Systems by 875.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 458,910 shares of the construction company’s stock worth $66,464,000 after buying an additional 411,883 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 2.0%

Advanced Drainage Systems stock opened at $141.65 on Thursday. Advanced Drainage Systems, Inc. has a 1-year low of $110.85 and a 1-year high of $179.32. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 1.50 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a 50 day simple moving average of $142.14 and a 200 day simple moving average of $148.83.

Advanced Drainage Systems (NYSE:WMS – Get Free Report) last posted 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. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The firm had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. During the same quarter in the prior year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. Advanced Drainage Systems’s dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on WMS. KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Barclays increased their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Zacks Research cut Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 17th. Finally, Oppenheimer lowered their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Get Our Latest Stock Analysis on Advanced Drainage Systems

About Advanced Drainage Systems

(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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