Allspring Global Investments Holdings LLC Purchases 2,559 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 15.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,914 shares of the construction company's stock after buying an additional 2,559 shares during the period. Allspring Global Investments Holdings LLC's holdings in Advanced Drainage Systems were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Advanced Drainage Systems by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,332,268 shares of the construction company's stock worth $847,610,000 after purchasing an additional 52,799 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Advanced Drainage Systems by 63.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company's stock worth $238,659,000 after purchasing an additional 799,569 shares during the last quarter. First Trust Advisors LP increased its position in Advanced Drainage Systems by 45.8% in the 4th quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock worth $200,315,000 after purchasing an additional 544,109 shares during the last quarter. American Century Companies Inc. increased its position in Advanced Drainage Systems by 1.2% in the 4th quarter. American Century Companies Inc. now owns 1,402,447 shares of the construction company's stock worth $162,123,000 after purchasing an additional 16,415 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Advanced Drainage Systems by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,192,746 shares of the construction company's stock worth $137,924,000 after purchasing an additional 5,868 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

NYSE:WMS traded up $4.18 during mid-day trading on Thursday, hitting $123.67. 310,809 shares of the company's stock traded hands, compared to its average volume of 628,553. The firm has a 50 day moving average of $115.42 and a two-hundred day moving average of $114.49. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $179.57. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The business had revenue of $615.76 million for the quarter, compared to the consensus estimate of $653.22 million. During the same quarter in the previous year, the company earned $1.23 EPS. Advanced Drainage Systems's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.18 per share. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.58%. Advanced Drainage Systems's dividend payout ratio is presently 12.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays increased their price objective on Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Oppenheimer reduced their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Loop Capital lowered their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $139.88.

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.