Woodline Partners LP Has $16.31 Million Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Woodline Partners LP boosted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 235.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,128 shares of the construction company's stock after purchasing an additional 99,003 shares during the quarter. Woodline Partners LP owned approximately 0.18% of Advanced Drainage Systems worth $16,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WMS. UMB Bank n.a. increased its holdings in Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock worth $90,000 after purchasing an additional 88 shares during the last quarter. Spire Wealth Management bought a new stake in shares of Advanced Drainage Systems in the 4th quarter valued at approximately $94,000. First Horizon Advisors Inc. increased its holdings in shares of Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after acquiring an additional 137 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Advanced Drainage Systems by 12.0% in the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after acquiring an additional 108 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Advanced Drainage Systems by 1,298.6% in the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock valued at $118,000 after acquiring an additional 948 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WMS shares. Oppenheimer lowered their price target 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. UBS Group reduced their price objective on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 price objective for the company. Wall Street Zen lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Loop Capital reduced their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, May 16th. One equities 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.88.

Advanced Drainage Systems Stock Performance

WMS stock traded down $0.76 during trading on Friday, reaching $110.25. 493,986 shares of the company's stock were exchanged, compared to its average volume of 601,805. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.57. The company's fifty day moving average price is $110.23 and its 200-day moving average price is $117.91. The firm has a market cap of $8.55 billion, a PE ratio of 18.44, a P/E/G ratio of 1.13 and a beta of 1.31.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.06). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. The business 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 posted $1.23 EPS. The company's revenue was down 5.8% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.18 dividend. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 0.65%. Advanced Drainage Systems's dividend payout ratio is 12.50%.

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.