Advisors Asset Management Inc. Cuts Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Advisors Asset Management Inc. lessened its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 18.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,682 shares of the construction company’s stock after selling 1,692 shares during the quarter. Advisors Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $1,207,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. West Oak Capital LLC lifted its stake in shares of Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. National Bank of Canada FI acquired a new position in Advanced Drainage Systems during the second quarter worth about $45,000. Huntington National Bank boosted its position in Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after acquiring an additional 213 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Advanced Drainage Systems by 65.2% in the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the construction company’s stock valued at $72,000 after acquiring an additional 178 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Loop Capital lowered their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Oppenheimer dropped their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Stephens reaffirmed an “equal weight” rating and issued a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Barclays lowered their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, KeyCorp cut their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Stock Up 1.9 %

Shares of NYSE:WMS opened at $134.37 on Tuesday. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 12-month low of $117.97 and a 12-month high of $184.27. The business has a 50-day moving average price of $148.67 and a 200 day moving average price of $157.21. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The company had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same quarter in the prior year, the business earned $1.71 earnings per share. Advanced Drainage Systems’s revenue was up .3% on a year-over-year basis. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.16 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.48%. Advanced Drainage Systems’s payout ratio is 10.19%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.