Advisors Capital Management LLC Takes $4.73 Million Position in Advanced Drainage Systems, Inc. $WMS

Advisors Capital Management LLC bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,146 shares of the construction company's stock, valued at approximately $4,732,000.

Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors raised its position in Advanced Drainage Systems by 2.8% during the 4th quarter. Captrust Financial Advisors now owns 2,170 shares of the construction company's stock worth $314,000 after buying an additional 60 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Advanced Drainage Systems by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 16,007 shares of the construction company's stock valued at $2,318,000 after acquiring an additional 63 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Advanced Drainage Systems by 3.4% in the 4th quarter. MML Investors Services LLC now owns 1,961 shares of the construction company's stock valued at $284,000 after acquiring an additional 64 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Advanced Drainage Systems by 24.4% in the fourth quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock worth $55,000 after acquiring an additional 74 shares during the period. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock worth $33,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WMS. Robert W. Baird set a $206.00 price target on shares of Advanced Drainage Systems in a report on Friday, August 7th. Barclays upped their target price on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Oppenheimer dropped their target price on Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a report on Tuesday, May 26th. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $170.00 to $178.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Finally, Zacks Research raised Advanced Drainage Systems from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Advanced Drainage Systems has an average rating of "Moderate Buy" and an average target price of $188.38.

Advanced Drainage Systems Stock Down 2.8%

Advanced Drainage Systems stock opened at $142.36 on Friday. The stock has a market capitalization of $10.73 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 12 month low of $128.03 and a 12 month high of $179.32. The business has a 50 day simple moving average of $146.09 and a 200-day simple moving average of $147.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.12 and a quick ratio of 1.18.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. During the same quarter last year, the firm posted $1.95 EPS. The business's revenue was up 20.6% on a year-over-year basis. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 13.82%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source