Advanced Drainage Systems, Inc. $WMS Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Advanced Drainage Systems by 21.7% in the first quarter, selling 45,839 shares and leaving it with 164,961 shares valued at about $22.6 million.
• Despite that sale, institutional ownership remains very high, with hedge funds and other institutional investors holding 89.83% of the company’s stock, and several firms recently increasing their positions.
• Advanced Drainage Systems posted better-than-expected quarterly results, earning $1.07 per share on revenue of $676.76 million, and it also raised its quarterly dividend to $0.20 per share.

Swedbank AB lessened its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,961 shares of the construction company's stock after selling 45,839 shares during the period. Swedbank AB owned 0.21% of Advanced Drainage Systems worth $22,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in WMS. Norges Bank acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth about $156,587,000. Wellington Management Group LLP boosted its position in shares of Advanced Drainage Systems by 234.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company's stock valued at $164,901,000 after purchasing an additional 832,929 shares during the period. Amundi grew its stake in Advanced Drainage Systems by 80.9% during the 4th quarter. Amundi now owns 1,279,576 shares of the construction company's stock worth $185,324,000 after buying an additional 572,193 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company's stock worth $302,290,000 after buying an additional 546,298 shares during the last quarter. Finally, Interval Partners LP increased its position in Advanced Drainage Systems by 98.0% during the third quarter. Interval Partners LP now owns 968,534 shares of the construction company's stock worth $134,336,000 after buying an additional 479,413 shares during the period. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Up 2.1%

Shares of Advanced Drainage Systems stock opened at $148.13 on Friday. The company has a market cap of $11.35 billion, a P/E ratio of 27.23, a PEG ratio of 1.56 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42. Advanced Drainage Systems, Inc. has a one year low of $109.63 and a one year high of $179.32. The firm has a fifty day moving average of $141.58 and a two-hundred day moving average of $148.89.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued 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. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The business had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business's quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.20 dividend. The ex-dividend date was Monday, June 1st. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.5%. Advanced Drainage Systems's payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WMS. Oppenheimer reduced their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating for the company in a research note on Tuesday, May 26th. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They issued a "buy" rating and a $175.00 target price on the stock. Barclays reduced their price target on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. UBS Group decreased their price target on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Advanced Drainage Systems has an average rating of "Moderate Buy" and a consensus target price of $185.75.

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.

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