Diversify Wealth Management LLC Purchases New Shares in Advanced Drainage Systems, Inc. $WMS

Diversify Wealth Management LLC purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,497 shares of the construction company’s stock, valued at approximately $512,000.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Advanced Drainage Systems by 352.0% during 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 during the period. Baird Financial Group Inc. grew its position in shares of Advanced Drainage Systems by 1.8% in the 2nd quarter. Baird Financial Group Inc. now owns 21,049 shares of the construction company’s stock worth $2,418,000 after buying an additional 382 shares during the period. Brown Advisory Inc. increased its stake in shares of Advanced Drainage Systems by 14.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company’s stock worth $549,000 after acquiring an additional 588 shares in the last quarter. Jump Financial LLC purchased a new position in Advanced Drainage Systems during the 2nd quarter valued at about $403,000. Finally, California Public Employees Retirement System lifted its position in Advanced Drainage Systems by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 101,512 shares of the construction company’s stock valued at $11,660,000 after acquiring an additional 2,206 shares during the period. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 2.4%

WMS stock opened at $147.62 on Friday. The stock has a market capitalization of $11.31 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.63 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. Advanced Drainage Systems, Inc. has a 1-year low of $110.79 and a 1-year high of $179.32. The business has a fifty day moving average price of $142.09 and a 200-day moving average price of $148.92.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The company had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. During the same period last year, the company earned $1.03 EPS. Advanced Drainage Systems’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. Advanced Drainage Systems’s payout ratio is 14.71%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WMS. KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $190.00 to $175.00 in a report on Wednesday, May 27th. Barclays boosted their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer reduced their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.00.

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.