Alliancebernstein L.P. Reduces Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Alliancebernstein L.P. lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,313 shares of the construction company's stock after selling 3,483 shares during the period. Alliancebernstein L.P. owned about 0.12% of Advanced Drainage Systems worth $10,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WMS. UMB Bank n.a. grew its holdings 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 worth $90,000 after acquiring an additional 88 shares during the period. Blue Trust Inc. lifted its stake in shares of Advanced Drainage Systems by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after purchasing an additional 108 shares during the period. CIBC Asset Management Inc boosted its holdings 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 buying an additional 119 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Advanced Drainage Systems by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company's stock valued at $231,000 after buying an additional 125 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Advanced Drainage Systems by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on WMS shares. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price on the stock. Stephens reaffirmed an "equal weight" rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a report on Friday, February 7th. StockNews.com cut shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research note on Tuesday, April 1st. Barclays reduced 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, Loop Capital cut their price target 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems presently has an average rating of "Moderate Buy" and a consensus price target of $153.78.

Advanced Drainage Systems Trading Down 0.1 %

WMS stock traded down $0.12 on Wednesday, hitting $104.83. 34,780 shares of the company were exchanged, compared to its average volume of 573,162. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $184.27. The business's fifty day moving average is $111.83 and its two-hundred day moving average is $125.84. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

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 analysts' consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

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