Advanced Drainage Systems, Inc. $WMS Stock Position Lessened by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,496 shares of the construction company’s stock after selling 13,973 shares during the period. J. Safra Sarasin Holding AG owned approximately 0.20% of Advanced Drainage Systems worth $20,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Advanced Drainage Systems in the 4th quarter valued at about $156,587,000. Wellington Management Group LLP raised its position in shares of Advanced Drainage Systems by 234.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after buying an additional 832,929 shares in the last quarter. Amundi raised its position in shares of Advanced Drainage Systems by 80.9% during the 4th quarter. Amundi now owns 1,279,576 shares of the construction company’s stock worth $185,324,000 after buying an additional 572,193 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Advanced Drainage Systems by 32.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after acquiring an additional 546,298 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Advanced Drainage Systems by 875.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 458,910 shares of the construction company’s stock worth $66,464,000 after acquiring an additional 411,883 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Trading Up 0.3%

Shares of NYSE WMS opened at $150.89 on Monday. 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, Inc. has a 12 month low of $109.63 and a 12 month high of $179.32. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.62 and a beta of 1.26. The business has a fifty day simple moving average of $141.67 and a 200-day simple moving average of $148.90.

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

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.5%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 1st. Advanced Drainage Systems’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 17th. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.75.

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.