AGF Management Ltd. Reduces Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Key Points

• AGF Management Ltd. reduced its stake in Advanced Drainage Systems by 9.3%, selling 5,352 shares and owning 52,281 shares valued at approximately $5.68 million as of the last SEC filing.
• Advanced Drainage Systems recently announced a quarterly dividend of $0.18 per share, with a payout ratio of 13.00%, aiming to attract and retain investors.
• The company's stock saw a significant uptick, rising 4.0% recently, and has a consensus rating of "Moderate Buy" with a price target of approximately $152.56 from analysts.

AGF Management Ltd. cut its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,281 shares of the construction company's stock after selling 5,352 shares during the period. AGF Management Ltd. owned about 0.07% of Advanced Drainage Systems worth $5,680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Advanced Drainage Systems by 63.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company's stock valued at $238,659,000 after acquiring an additional 799,569 shares in the last quarter. First Trust Advisors LP raised its holdings in Advanced Drainage Systems by 45.8% in the fourth quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock valued at $200,315,000 after acquiring an additional 544,109 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at approximately $46,997,000. Impax Asset Management Group plc raised its holdings in Advanced Drainage Systems by 14.8% in the first quarter. Impax Asset Management Group plc now owns 2,904,414 shares of the construction company's stock valued at $314,700,000 after acquiring an additional 374,414 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at approximately $42,160,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WMS shares. Royal Bank Of Canada started coverage on shares of Advanced Drainage Systems in a report on Monday, August 11th. They issued an "outperform" rating and a $159.00 target price on the stock. UBS Group restated a "buy" rating and set a $167.00 target price (up from $146.00) on shares of Advanced Drainage Systems in a research report on Friday, August 8th. KeyCorp increased their price target on Advanced Drainage Systems from $140.00 to $159.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Loop Capital decreased their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a report on Friday, May 16th. Finally, Robert W. Baird set a $166.00 price target on Advanced Drainage Systems in a report on Friday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Advanced Drainage Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.56.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock traded down $0.31 during midday trading on Friday, reaching $138.98. The company's stock had a trading volume of 645,898 shares, compared to its average volume of 819,976. The firm has a market capitalization of $10.81 billion, a PE ratio of 25.09, a P/E/G ratio of 1.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.25 and a current ratio of 3.22. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $166.03. The stock's 50 day simple moving average is $118.96 and its 200 day simple moving average is $114.82.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.17. The business had revenue of $829.88 million during the quarter, compared to the consensus estimate of $800.54 million. Advanced Drainage Systems had a return on equity of 29.57% and a net margin of 14.82%. The business's revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 EPS. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Advanced Drainage Systems's payout ratio is 13.00%.

About Advanced Drainage Systems

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.