Wellington Management Group LLP Lowers Stake in Advanced Drainage Systems, Inc. $WMS

Wellington Management Group LLP lessened its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 20.9% in the 2nd quarter, Holdings Channel reports. The firm owned 840,488 shares of the construction company’s stock after selling 222,743 shares during the period. Wellington Management Group LLP’s holdings in Advanced Drainage Systems were worth $131,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in Advanced Drainage Systems during the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 buying an additional 176 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advanced Drainage Systems in the 3rd quarter valued at $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their target price on Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Zacks Research upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. DA Davidson assumed coverage on shares of Advanced Drainage Systems in a research note on Tuesday, August 25th. They issued a “buy” rating and a $190.00 price objective for the company. Finally, National Bank Financial set a $190.00 price objective on shares of Advanced Drainage Systems in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average target price of $188.70.

Advanced Drainage Systems Stock Down 0.7%

Shares of NYSE WMS opened at $135.97 on Tuesday. The stock has a market cap of $10.25 billion, a P/E ratio of 23.48, a PEG ratio of 1.50 and a beta of 1.27. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems, Inc. has a 12-month low of $128.03 and a 12-month high of $179.32. The business’s fifty day simple moving average is $145.88 and its 200-day simple moving average is $146.01.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $991.39 million. During the same period last year, the business posted $1.95 earnings per share. Advanced Drainage Systems’s revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid 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 dividend payout ratio (DPR) is presently 13.82%.

Advanced Drainage Systems 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.