Advanced Drainage Systems, Inc. $WMS Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 1.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 274,556 shares of the construction company’s stock after selling 4,644 shares during the period. PNC Financial Services Group Inc.’s holdings in Advanced Drainage Systems were worth $37,650,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Captrust Financial Advisors boosted its stake in Advanced Drainage Systems by 2.8% during the fourth quarter. Captrust Financial Advisors now owns 2,170 shares of the construction company’s stock worth $314,000 after buying an additional 60 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Advanced Drainage Systems by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 16,007 shares of the construction company’s stock valued at $2,318,000 after acquiring an additional 63 shares during the period. MML Investors Services LLC raised its stake in shares of Advanced Drainage Systems by 3.4% in the 4th quarter. MML Investors Services LLC now owns 1,961 shares of the construction company’s stock valued at $284,000 after acquiring an additional 64 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Advanced Drainage Systems by 24.4% in the 4th quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock worth $55,000 after acquiring an additional 74 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after acquiring an additional 107 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Ratings Changes

WMS has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price for the company. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. UBS Group dropped their price objective on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Oppenheimer cut their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Advanced Drainage Systems Price Performance

Shares of WMS opened at $140.66 on Friday. Advanced Drainage Systems, Inc. has a fifty-two week low of $110.85 and a fifty-two week high of $179.32. The firm’s 50 day moving average price is $142.16 and its 200 day moving average price is $148.77. The company has a market cap of $10.78 billion, a P/E ratio of 25.86, a PEG ratio of 1.53 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company had revenue of $676.76 million during the quarter, compared to analysts’ expectations of $651.92 million. During the same quarter last year, the company posted $1.03 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

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

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.