Wellington Management Group LLP Lowers Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Wellington Management Group LLP trimmed its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 339,259 shares of the construction company's stock after selling 18,652 shares during the quarter. Wellington Management Group LLP owned 0.44% of Advanced Drainage Systems worth $39,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Advanced Drainage Systems by 12.0% during the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock worth $116,000 after purchasing an additional 108 shares during the period. CIBC Asset Management Inc raised its stake in Advanced Drainage Systems by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company's stock valued at $276,000 after acquiring an additional 119 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in Advanced Drainage Systems by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company's stock valued at $231,000 after acquiring an additional 125 shares during the period. First Horizon Advisors Inc. increased its position in shares of Advanced Drainage Systems by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after buying an additional 137 shares during the period. Finally, Isthmus Partners LLC increased its position in shares of Advanced Drainage Systems by 5.9% during the fourth quarter. Isthmus Partners LLC now owns 2,725 shares of the construction company's stock valued at $315,000 after buying an additional 153 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Up 2.4%

Shares of NYSE:WMS traded up $2.66 during trading on Wednesday, reaching $113.40. 285,573 shares of the company traded hands, compared to its average volume of 604,320. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.13 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $179.57. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The business's fifty day moving average is $110.11 and its 200-day moving average is $116.62.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 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 during the quarter, compared to analysts' expectations of $653.22 million. During the same period in the previous year, the business earned $1.23 EPS. The business's revenue was down 5.8% compared to the same quarter last year. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.63%. 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%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays upped their price target on Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. KeyCorp decreased their price target on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Loop Capital decreased their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Oppenheimer decreased their price target on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 price target on the stock. One 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.