Advanced Drainage Systems, Inc. $WMS Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners cut its stake in Advanced Drainage Systems by 23.2% in the first quarter, selling 48,045 shares and leaving it with 158,803 shares valued at about $21.8 million.
• The company reported better-than-expected quarterly results, with EPS of $1.07 versus $0.95 expected and revenue of $676.76 million, up 9.9% year over year.
• Advanced Drainage Systems also raised its quarterly dividend to $0.20 per share, while Wall Street sentiment remains constructive with an average rating of “Moderate Buy” and a $187.00 target price.

Epoch Investment Partners Inc. lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,803 shares of the construction company's stock after selling 48,045 shares during the quarter. Epoch Investment Partners Inc. owned about 0.20% of Advanced Drainage Systems worth $21,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Advanced Drainage Systems by 3.1% during the third quarter. State Street Corp now owns 2,551,901 shares of the construction company's stock worth $353,949,000 after purchasing an additional 75,777 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Advanced Drainage Systems by 32.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company's stock valued at $302,290,000 after buying an additional 546,298 shares during the period. Amundi grew its stake in shares of Advanced Drainage Systems by 80.9% in the 4th quarter. Amundi now owns 1,279,576 shares of the construction company's stock valued at $185,324,000 after buying an additional 572,193 shares during the period. Geode Capital Management LLC increased its holdings in shares of Advanced Drainage Systems by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company's stock worth $184,184,000 after buying an additional 15,069 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Advanced Drainage Systems by 6.3% during the 4th quarter. Wellington Management Group LLP now owns 1,264,156 shares of the construction company's stock worth $183,088,000 after buying an additional 75,250 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $142.05 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42. The firm has a market cap of $10.89 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.53 and a beta of 1.26. The firm's 50 day moving average price is $142.29 and its 200-day moving average price is $148.72. Advanced Drainage Systems, Inc. has a one year low of $110.85 and a one year high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The firm had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Advanced Drainage Systems's payout ratio is presently 14.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WMS. Barclays lifted their price target on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Stephens upgraded Advanced Drainage Systems from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. Zacks Research cut Advanced Drainage Systems from a "hold" rating to a "strong sell" rating in a research note on Wednesday, June 17th. Oppenheimer reduced their target price on Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 26th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Advanced Drainage Systems has an average rating of "Moderate Buy" and an average target price of $187.00.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.

Want to see what other hedge funds are holding WMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.