Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,677 shares of the construction company's stock after selling 5,859 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.27% of Advanced Drainage Systems worth $22,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of Advanced Drainage Systems in the 1st quarter valued at about $26,000. Mascagni Wealth Management Inc. acquired a new stake in Advanced Drainage Systems during the 4th quarter worth $74,000. Spire Wealth Management purchased a new stake in Advanced Drainage Systems in the fourth quarter valued at $94,000. First Horizon Advisors Inc. lifted its position in Advanced Drainage Systems by 18.3% in the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after acquiring an additional 137 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Advanced Drainage Systems by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after acquiring an additional 108 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Stephens reiterated an "equal weight" rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Loop Capital lowered their target price on shares of 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. KeyCorp reduced their price target on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a "buy" rating and a $134.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.88.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS traded up $1.61 during midday trading on Thursday, hitting $114.76. The stock had a trading volume of 844,910 shares, compared to its average volume of 665,819. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 1 year low of $93.92 and a 1 year high of $179.57. The company has a market capitalization of $8.90 billion, a PE ratio of 19.19, a P/E/G ratio of 1.13 and a beta of 1.26. The stock has a 50 day moving average price of $110.21 and a two-hundred day moving average price of $116.59.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its 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 net margin of 15.90% and a return on equity of 35.79%. The business had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. During the same period last year, the business posted $1.23 EPS. Advanced Drainage Systems's revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.63%. Advanced Drainage Systems's dividend payout ratio (DPR) is 12.50%.

Advanced Drainage Systems Profile

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.