AIA Group Ltd Sells 3,858 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Key Points

• AIA Group Ltd has reduced its stake in Advanced Drainage Systems, Inc. by 13.6% in the first quarter, now holding 24,512 shares valued at $2,663,000.
• Various institutional investors have modified their holdings, with Nuveen LLC acquiring a new stake worth approximately $17.78 million and other firms increasing their investments significantly during the same period.
• Advanced Drainage Systems received multiple rating upgrades from analysts, with Barclays raising its price target to $160 and the stock currently holding a Moderate Buy average rating with a price target of $152.56.

AIA Group Ltd trimmed its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 13.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,512 shares of the construction company's stock after selling 3,858 shares during the quarter. AIA Group Ltd's holdings in Advanced Drainage Systems were worth $2,663,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Advanced Drainage Systems by 2.8% in the first quarter. Vanguard Group Inc. now owns 7,537,094 shares of the construction company's stock worth $818,905,000 after buying an additional 204,826 shares during the period. Impax Asset Management Group plc boosted its position in shares of 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 worth $314,700,000 after buying an additional 374,414 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 worth $238,659,000 after buying an additional 799,569 shares during the period. Invesco Ltd. boosted its position in shares of Advanced Drainage Systems by 2.7% in the first quarter. Invesco Ltd. now owns 1,734,537 shares of the construction company's stock worth $188,457,000 after buying an additional 45,993 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of 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 worth $200,315,000 after buying an additional 544,109 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Trading Up 4.5%

Shares of WMS traded up $6.12 during trading hours on Wednesday, reaching $142.90. The stock had a trading volume of 1,385,180 shares, compared to its average volume of 783,986. The company has a quick ratio of 2.25, a current ratio of 3.22 and a debt-to-equity ratio of 0.82. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $166.03. The firm has a 50-day moving average of $117.99 and a 200 day moving average of $114.69. The company has a market cap of $11.11 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.82 and a beta of 1.27.

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

Advanced Drainage Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

WMS has been the subject of a number of research reports. Loop Capital reduced their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, May 16th. KeyCorp lifted their price objective on Advanced Drainage Systems from $140.00 to $159.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Royal Bank Of Canada initiated coverage on Advanced Drainage Systems in a research report on Monday. They set an "outperform" rating and a $159.00 price objective for the company. Oppenheimer reissued an "outperform" rating on shares of Advanced Drainage Systems in a research report on Friday, August 8th. Finally, Wall Street Zen raised Advanced Drainage Systems from a "sell" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $152.56.

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.