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. Bessemer Group Inc. increased its position in Advanced Drainage Systems by 76.2% in the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after purchasing an additional 115 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Advanced Drainage Systems by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company's stock valued at $68,616,000 after acquiring an additional 31,510 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Advanced Drainage Systems by 23.0% during the 4th quarter. Vident Advisory LLC now owns 1,907 shares of the construction company's stock valued at $220,000 after acquiring an additional 356 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Advanced Drainage Systems by 48.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,566 shares of the construction company's stock valued at $496,000 after acquiring an additional 1,487 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Advanced Drainage Systems by 167.1% during the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock valued at $88,000 after acquiring an additional 508 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on WMS shares. Oppenheimer lowered their price objective on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They set a "buy" rating and a $134.00 price objective on the stock. Robert W. Baird lowered their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, Barclays raised their target price on Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and an average target price of $139.88.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS traded down $1.82 during trading on Friday, hitting $120.37. 460,011 shares of the stock were exchanged, compared to its average volume of 629,937. The company's fifty day simple moving average is $115.59 and its 200-day simple moving average is $114.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.24. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $653.22 million. During the same quarter in the previous year, the firm posted $1.23 EPS. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 30th. Advanced Drainage Systems's dividend payout ratio (DPR) is currently 12.50%.

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.