M&G PLC Purchases 4,075 Shares of Advanced Drainage Systems, Inc. $WMS

M&G PLC lifted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 64.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,420 shares of the construction company’s stock after acquiring an additional 4,075 shares during the quarter. M&G PLC’s holdings in Advanced Drainage Systems were worth $1,323,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP purchased a new stake in Advanced Drainage Systems during the 2nd quarter worth approximately $26,000. Avalon Trust Co acquired a new position in shares of Advanced Drainage Systems in the 2nd quarter valued at approximately $42,000. Vega Investment Solutions purchased a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at approximately $50,000. Heritage Family Offices LLP purchased a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at approximately $53,000. Finally, Bessemer Group Inc. grew its position in shares of Advanced Drainage Systems by 70.3% during the first quarter. Bessemer Group Inc. now owns 395 shares of the construction company’s stock worth $54,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WMS. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Thursday, October 15th. National Bank Financial set a $190.00 price objective on shares of Advanced Drainage Systems in a report on Monday, August 24th. DA Davidson cut their target price on shares of Advanced Drainage Systems from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Zacks Research raised Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Robert W. Baird set a $206.00 target price on Advanced Drainage Systems in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and an average target price of $184.40.

Advanced Drainage Systems Stock Up 0.6%

NYSE:WMS opened at $129.53 on Thursday. Advanced Drainage Systems, Inc. has a 52 week low of $119.53 and a 52 week high of $179.32. The company has a current ratio of 2.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $129.74 and a 200-day moving average of $142.71. The firm has a market capitalization of $9.56 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, November 5th. The construction company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. Advanced Drainage Systems had a net margin of 12.44% and a return on equity of 27.88%. The business had revenue of $889.41 million for the quarter, compared to analysts’ expectations of $921.79 million. During the same quarter last year, the company earned $1.97 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts predict that Advanced Drainage Systems, Inc. will post 6.44 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, December 1st. Advanced Drainage Systems’s payout ratio is currently 15.21%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc. (NYSE: WMS) manufactures water-management products for infrastructure, construction, agriculture and residential markets. Its offerings include thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater. The company also provides stormwater storage, treatment and infiltration systems, as well as products for onsite wastewater and septic systems through its Infiltrator Water Technologies business. Its portfolio includes solutions for projects ranging from roadways and commercial developments to residential wastewater applications.