Icon Advisers Inc. Co. Cuts Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Icon Advisers Inc. Co. cut its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,652 shares of the construction company's stock after selling 3,345 shares during the period. Icon Advisers Inc. Co.'s holdings in Advanced Drainage Systems were worth $2,850,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its stake in Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock valued at $90,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Advanced Drainage Systems by 12.0% in the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after acquiring an additional 108 shares during the last quarter. CIBC Asset Management Inc increased its stake in Advanced Drainage Systems by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company's stock worth $276,000 after acquiring an additional 119 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Advanced Drainage Systems by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company's stock valued at $231,000 after purchasing an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock worth $102,000 after purchasing an additional 137 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Up 0.8 %

Shares of WMS traded up $0.82 during midday trading on Friday, reaching $104.44. 377,074 shares of the stock were exchanged, compared to its average volume of 574,273. The company has a market capitalization of $8.10 billion, a P/E ratio of 17.46, a PEG ratio of 1.13 and a beta of 1.48. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $184.27. The company's 50 day moving average is $110.63 and its two-hundred day moving average is $124.97.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems's dividend payout ratio (DPR) is 10.70%.

Analyst Ratings Changes

WMS has been the subject of a number of analyst reports. KeyCorp dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Stephens reiterated an "equal weight" rating and set a $135.00 price target on shares of Advanced Drainage Systems in a report on Friday, February 7th. UBS Group raised shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research note on Wednesday, January 8th. Barclays cut their target price on Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.78.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.