Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 15.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WMS. Bessemer Group Inc. raised its position in shares of Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after buying an additional 115 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in Advanced Drainage Systems by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company's stock worth $231,000 after purchasing an additional 125 shares during the period. Isthmus Partners LLC raised its stake in Advanced Drainage Systems by 5.9% during the fourth quarter. Isthmus Partners LLC now owns 2,725 shares of the construction company's stock worth $315,000 after purchasing an additional 153 shares during the period. Nicolet Advisory Services LLC raised its stake in shares of Advanced Drainage Systems by 4.1% in the 4th quarter. Nicolet Advisory Services LLC now owns 4,024 shares of the construction company's stock valued at $454,000 after acquiring an additional 157 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Advanced Drainage Systems by 9.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,175 shares of the construction company's stock valued at $250,000 after acquiring an additional 194 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 0.6%

Shares of WMS stock traded up $0.76 during trading on Wednesday, reaching $119.77. The company's stock had a trading volume of 16,917 shares, compared to its average volume of 689,665. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.10. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.68 and a beta of 1.24. The stock's 50-day moving average price is $115.29 and its 200 day moving average price is $114.45. 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 posted its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The firm had revenue of $615.76 million for the quarter, compared to analyst estimates of $653.22 million. During the same quarter last year, the firm earned $1.23 EPS. The company's revenue was down 5.8% on a year-over-year basis. On average, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WMS. Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Barclays boosted their price target on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. UBS Group dropped their price objective on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a report on Friday, May 16th. Finally, KeyCorp dropped their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.