Advanced Drainage Systems, Inc. $WMS Stock Position Decreased by Montanaro Asset Management Ltd

Key Points

• Montanaro Asset Management cut its stake in Advanced Drainage Systems by 38.7% in the fourth quarter, selling 10,300 shares and leaving it with 16,300 shares valued at about $2.36 million.
• The company reported better-than-expected quarterly results, with EPS of $1.07 versus the $0.95 estimate and revenue of $676.76 million, up 9.9% year over year.
• Advanced Drainage Systems also raised its quarterly dividend to $0.20 from $0.18, while analysts currently hold a consensus rating of Moderate Buy with an average price target of $185.75.

Montanaro Asset Management Ltd trimmed its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 38.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,300 shares of the construction company's stock after selling 10,300 shares during the quarter. Montanaro Asset Management Ltd's holdings in Advanced Drainage Systems were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in WMS. Northwestern Mutual Wealth Management Co. raised its position in Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock valued at $26,000 after acquiring an additional 176 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Advanced Drainage Systems in the third quarter worth approximately $36,000. Kestra Advisory Services LLC acquired a new position in shares of Advanced Drainage Systems during the 4th quarter worth $37,000. Los Angeles Capital Management LLC acquired a new position in shares of Advanced Drainage Systems during the 4th quarter worth $42,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Advanced Drainage Systems by 150.8% during the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company's stock valued at $44,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock opened at $147.28 on Friday. The firm has a fifty day simple moving average of $141.97 and a 200-day simple moving average of $148.79. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. Advanced Drainage Systems, Inc. has a 1-year low of $109.63 and a 1-year high of $179.32. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.58 and a beta of 1.29.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The business 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%. Advanced Drainage Systems's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on WMS. Stephens raised shares of Advanced Drainage Systems from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $190.00 to $175.00 in a research note on Wednesday, May 27th. Jefferies Financial Group started coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They set a "buy" rating and a $175.00 target price on the stock. Zacks Research cut Advanced Drainage Systems from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Oppenheimer reduced their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating for the company in a research report on Tuesday, May 26th. Finally, KeyCorp decreased their price target on Advanced Drainage Systems from $198.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Advanced Drainage Systems has an average rating of "Moderate Buy" and an average target price of $185.75.

Advanced Drainage Systems Profile

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.