ABN AMRO Bank N.V. Cuts Holdings in Advanced Drainage Systems, Inc. $WMS

Key Points

• ABN AMRO Bank N.V. cut its stake in Advanced Drainage Systems by 6.2% in the fourth quarter, selling 7,856 shares and leaving it with 118,756 shares worth about $17.2 million.
• The company’s latest earnings beat expectations, with quarterly EPS of $1.27 versus the $1.11 consensus and revenue of $693.35 million, slightly above estimates.
• Analysts remain broadly positive on WMS, with seven Buy ratings and one Hold; the stock has a Moderate Buy consensus and an average price target of $190.29.

ABN AMRO Bank N.V. decreased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,756 shares of the construction company's stock after selling 7,856 shares during the period. ABN AMRO Bank N.V. owned approximately 0.15% of Advanced Drainage Systems worth $17,159,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in shares of Advanced Drainage Systems by 3.1% during the third quarter. State Street Corp now owns 2,551,901 shares of the construction company's stock valued at $353,949,000 after purchasing an additional 75,777 shares in the last quarter. First Trust Advisors LP grew its position in shares of Advanced Drainage Systems by 10.9% during the third quarter. First Trust Advisors LP now owns 2,416,942 shares of the construction company's stock valued at $335,230,000 after purchasing an additional 238,179 shares in the last quarter. American Century Companies Inc. grew its position in shares of Advanced Drainage Systems by 6.5% during the third quarter. American Century Companies Inc. now owns 1,472,176 shares of the construction company's stock valued at $204,191,000 after purchasing an additional 90,106 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Advanced Drainage Systems by 234.0% during the third quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company's stock valued at $164,901,000 after purchasing an additional 832,929 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Advanced Drainage Systems by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,138,378 shares of the construction company's stock valued at $157,889,000 after purchasing an additional 16,118 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Price Performance

WMS opened at $143.26 on Monday. The business has a fifty day moving average of $146.94 and a 200 day moving average of $150.44. Advanced Drainage Systems, Inc. has a 52-week low of $104.69 and a 52-week high of $179.32. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The stock has a market cap of $11.16 billion, a P/E ratio of 23.84, a PEG ratio of 1.50 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The company had revenue of $693.35 million during the quarter, compared to analysts' expectations of $686.37 million. During the same quarter in the previous year, the business earned $1.09 EPS. Advanced Drainage Systems's revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on WMS. Weiss Ratings reiterated a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Monday, April 20th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the stock a "buy" rating in a research report on Friday, February 6th. Oppenheimer reiterated an "outperform" rating and issued a $195.00 price target (down from $200.00) on shares of Advanced Drainage Systems in a research report on Friday, April 17th. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Finally, KeyCorp lifted their price target on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of "Moderate Buy" and an average price target of $190.29.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.

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