Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Advanced Drainage Systems by 18.2% in the first quarter, holding approximately 0.10% of the company valued at $8.5 million after selling 17,428 shares.
• Analyst ratings for Advanced Drainage Systems show a mixed response, with changes in price targets and ratings, including a downgrade to a "sell" by Wall Street Zen.
• Advanced Drainage Systems reported $1.03 EPS for the last quarter, missing estimates, along with a 5.8% decline in revenue year-over-year.

J. Safra Sarasin Holding AG cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 18.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,393 shares of the construction company's stock after selling 17,428 shares during the quarter. J. Safra Sarasin Holding AG owned 0.10% of Advanced Drainage Systems worth $8,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WMS. Bessemer Group Inc. boosted its stake in Advanced Drainage Systems by 76.2% during the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after buying an additional 115 shares during the period. Teacher Retirement System of Texas boosted its stake in Advanced Drainage Systems by 97.6% during the first quarter. Teacher Retirement System of Texas now owns 10,769 shares of the construction company's stock worth $1,170,000 after buying an additional 5,319 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Advanced Drainage Systems by 15.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,914 shares of the construction company's stock worth $2,061,000 after buying an additional 2,559 shares during the period. GAMMA Investing LLC boosted its stake in Advanced Drainage Systems by 167.1% during the first quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock worth $88,000 after buying an additional 508 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Advanced Drainage Systems by 23.0% during the fourth quarter. Vident Advisory LLC now owns 1,907 shares of the construction company's stock worth $220,000 after purchasing an additional 356 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WMS has been the subject of several research analyst reports. KeyCorp decreased their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen downgraded Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Barclays lifted their target price on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. UBS Group lowered 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 research note on Friday, May 16th. Finally, Oppenheimer lowered their price objective on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $139.88.

Advanced Drainage Systems Stock Down 0.0%

Shares of WMS traded down $0.02 during mid-day trading on Tuesday, hitting $113.02. 49,263 shares of the company traded hands, compared to its average volume of 678,381. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $166.03. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $8.77 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.65 and a beta of 1.27. The business has a 50 day moving average of $115.29 and a 200 day moving average of $114.33.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $615.76 million during the quarter, compared to analysts' expectations of $653.22 million. During the same quarter in the prior year, the company posted $1.23 EPS. The company's revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.6%. 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 presently 12.50%.

Advanced Drainage Systems 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.