Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Advanced Drainage Systems, Inc. $WMS

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 87.7% during the fourth quarter, Holdings Channel reports. The fund owned 136,270 shares of the construction company’s stock after buying an additional 63,661 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Advanced Drainage Systems were worth $19,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. boosted its stake in Advanced Drainage Systems by 352.0% in the second 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 during the last quarter. Mather Group LLC. purchased a new position in Advanced Drainage Systems in the third quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Advanced Drainage Systems in the third quarter valued at about $33,000. Cullen Frost Bankers Inc. boosted its stake in Advanced Drainage Systems by 1,242.1% in the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock valued at $35,000 after acquiring an additional 236 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Advanced Drainage Systems in the third quarter valued at about $36,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $153.65 on Thursday. Advanced Drainage Systems, Inc. has a 1 year low of $104.69 and a 1 year high of $179.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08. The stock has a market capitalization of $11.97 billion, a PE ratio of 25.57, a P/E/G ratio of 1.61 and a beta of 1.37. The company’s 50 day simple moving average is $150.80 and its two-hundred day simple moving average is $149.76.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.16. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business had revenue of $693.35 million for the quarter, compared to analysts’ expectations of $686.37 million. During the same period in the prior year, the company posted $1.09 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Analysts predict that Advanced Drainage Systems, Inc. will post 6.19 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.18 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is currently 11.98%.

Analysts Set New Price Targets

A number of research firms have weighed in on WMS. Oppenheimer reiterated an “outperform” rating and issued a $195.00 target price (down from $200.00) on shares of Advanced Drainage Systems in a research note on Friday, April 17th. Barclays dropped their target price on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada boosted their target price on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Robert W. Baird set a $205.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 6th. Finally, UBS Group set a $215.00 target price on shares of Advanced Drainage Systems and gave the company a “buy” rating in a research note on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.29.

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.