Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Advanced Drainage Systems by 6.6%, now holding 2,492,319 shares valued at approximately $270.79 million.
• The company reported a net loss in quarterly earnings, with earnings per share at $1.03, missing analyst expectations, and a year-over-year revenue decline of 5.8%.
• Advanced Drainage Systems announced an increase in its quarterly dividend from $0.16 to $0.18, representing an annualized yield of 0.62%.

Baillie Gifford & Co. trimmed its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,492,319 shares of the construction company's stock after selling 176,806 shares during the period. Baillie Gifford & Co. owned 3.21% of Advanced Drainage Systems worth $270,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers grew its stake in Advanced Drainage Systems by 11.3% in the first quarter. Cetera Investment Advisers now owns 15,345 shares of the construction company's stock worth $1,667,000 after purchasing an additional 1,554 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Advanced Drainage Systems in the first quarter worth about $7,675,000. Allianz Asset Management GmbH grew its stake in Advanced Drainage Systems by 2.6% in the first quarter. Allianz Asset Management GmbH now owns 560,688 shares of the construction company's stock worth $60,919,000 after purchasing an additional 14,472 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Advanced Drainage Systems in the first quarter worth about $745,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Advanced Drainage Systems by 6.6% in the first quarter. Kornitzer Capital Management Inc. KS now owns 160,595 shares of the construction company's stock worth $17,449,000 after acquiring an additional 9,950 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

WMS opened at $117.00 on Friday. The business's 50 day moving average is $115.04 and its 200-day moving average is $114.47. The stock has a market cap of $9.08 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.71 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, Inc. has a twelve month low of $93.92 and a twelve month high of $179.57.

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

Advanced Drainage Systems Increases Dividend

The business also recently disclosed 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 represents a $0.72 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's dividend payout ratio (DPR) is currently 12.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WMS. Wall Street Zen raised shares of Advanced Drainage Systems from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Barclays raised their target price on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Loop Capital cut their target price on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Robert W. Baird cut their target price on shares of 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, Oppenheimer cut their target price on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.88.

Advanced Drainage Systems Company Profile

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.

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