Wells Fargo & Company MN Sells 4,114 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Wells Fargo & Company MN trimmed its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,365 shares of the construction company's stock after selling 4,114 shares during the period. Wells Fargo & Company MN owned about 0.06% of Advanced Drainage Systems worth $5,475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $86,185,000. Impax Asset Management Group plc boosted its holdings in Advanced Drainage Systems by 34.6% during the 4th quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company's stock worth $291,723,000 after acquiring an additional 650,052 shares during the last quarter. Amundi grew its stake in shares of Advanced Drainage Systems by 72.2% in the 4th quarter. Amundi now owns 854,764 shares of the construction company's stock worth $98,678,000 after acquiring an additional 358,271 shares in the last quarter. KBC Group NV raised its holdings in shares of Advanced Drainage Systems by 21.2% in the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company's stock valued at $85,399,000 after purchasing an additional 129,252 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Advanced Drainage Systems by 32.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 359,111 shares of the construction company's stock valued at $41,513,000 after purchasing an additional 87,297 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Analyst Upgrades and Downgrades

WMS has been the subject of several recent analyst reports. Loop Capital reduced their target price on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, February 7th. KeyCorp lowered their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group upgraded shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price target on the stock in a research note on Wednesday, January 8th. Stephens reissued an "equal weight" rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Finally, Barclays decreased their price target on Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $153.78.

Advanced Drainage Systems Stock Performance

WMS stock traded up $2.27 during midday trading on Thursday, reaching $108.21. 31,857 shares of the company's stock traded hands, compared to its average volume of 571,542. The stock's 50-day moving average is $109.32 and its 200 day moving average is $123.91. The stock has a market cap of $8.39 billion, a P/E ratio of 18.11, a PEG ratio of 1.13 and a beta of 1.48. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $184.27. 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 (NYSE:WMS - Get Free Report) last released its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.16 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.59%. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 10.70%.

Advanced Drainage Systems Profile

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.