Cercano Management LLC Makes New $29.84 Million Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)

Cercano Management LLC bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 258,130 shares of the construction company's stock, valued at approximately $29,840,000. Cercano Management LLC owned about 0.33% of Advanced Drainage Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of Advanced Drainage Systems by 12.7% in the 4th 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 last quarter. Blue Trust Inc. boosted its position in Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after buying an additional 108 shares during the period. CIBC Asset Management Inc grew its stake in shares of 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 valued at $276,000 after buying an additional 119 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of 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 worth $231,000 after buying an additional 125 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake 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 valued at $102,000 after acquiring an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on WMS. Deutsche Bank Aktiengesellschaft started coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price target on the stock. Loop Capital dropped their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Barclays decreased their price objective on shares of 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. KeyCorp dropped their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Stephens restated an "equal weight" rating and set a $135.00 price target on shares of Advanced Drainage Systems in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems presently has an average rating of "Moderate Buy" and an average price target of $149.25.

Advanced Drainage Systems Stock Down 0.7 %

Shares of WMS traded down $0.78 on Friday, reaching $115.21. The stock had a trading volume of 444,891 shares, compared to its average volume of 585,519. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. The company has a 50-day simple moving average of $108.80 and a 200-day simple moving average of $120.33. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $184.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21.

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

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.