Federated Hermes Inc. Trims Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Federated Hermes Inc. cut its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 86.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,678 shares of the construction company's stock after selling 286,973 shares during the quarter. Federated Hermes Inc. owned about 0.06% of Advanced Drainage Systems worth $5,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. raised 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 valued at $90,000 after acquiring an additional 88 shares in the last quarter. Spire Wealth Management purchased a new position in Advanced Drainage Systems in the 4th quarter worth approximately $94,000. First Horizon Advisors Inc. raised 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 buying an additional 137 shares in the last quarter. Blue Trust Inc. grew its position in Advanced Drainage Systems by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock worth $116,000 after acquiring an additional 108 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Advanced Drainage Systems by 1,298.6% during the fourth quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock valued at $118,000 after purchasing an additional 948 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 0.5 %

WMS stock traded up $0.49 on Thursday, reaching $104.11. 61,242 shares of the company traded hands, compared to its average volume of 572,092. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $184.27. The company has a market cap of $8.08 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The firm has a fifty day simple moving average of $111.49 and a 200-day simple moving average of $125.69. 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 released its quarterly earnings data 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 net margin of 15.90% and a return on equity of 35.79%. Research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group raised Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 target price for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 price target for the company. 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. Loop Capital lowered their price target on 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. Finally, Stephens reiterated an "equal weight" rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.