Allspring Global Investments Holdings LLC Cuts Stake in Advanced Drainage Systems, Inc. $WMS

Key Points

• Allspring Global Investments cut its stake in Advanced Drainage Systems by 66.8%, selling 12,349 shares and leaving 6,147 shares valued at about $920,000.
• Institutional ownership remains high at 89.83%; notable moves include Mediolanum opening a ~$24.3M stake and Essex boosting its position by 345.7%.
• Advanced Drainage beat Q4 estimates with $1.27 EPS vs. $1.11 and revenue of $693.35M, pays a quarterly dividend of $0.18 (0.5% yield), and carries an average analyst target of $191 (Moderate Buy).

Allspring Global Investments Holdings LLC lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 66.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,147 shares of the construction company's stock after selling 12,349 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Advanced Drainage Systems were worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bridges Investment Management Inc. lifted its position in Advanced Drainage Systems by 32.9% in the third quarter. Bridges Investment Management Inc. now owns 28,122 shares of the construction company's stock valued at $3,901,000 after purchasing an additional 6,960 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Advanced Drainage Systems in the third quarter valued at approximately $24,314,000. Essex Investment Management Co. LLC lifted its position in Advanced Drainage Systems by 345.7% in the third quarter. Essex Investment Management Co. LLC now owns 42,898 shares of the construction company's stock valued at $5,950,000 after purchasing an additional 33,274 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Advanced Drainage Systems in the third quarter valued at approximately $1,321,000. Finally, Asset Management One Co. Ltd. lifted its position in Advanced Drainage Systems by 29.7% in the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company's stock valued at $2,772,000 after purchasing an additional 4,574 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock opened at $149.37 on Friday. The business has a 50 day moving average of $153.38 and a 200 day moving average of $148.99. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $11.64 billion, a PE ratio of 24.85, a P/E/G ratio of 1.57 and a beta of 1.37. Advanced Drainage Systems, Inc. has a 52 week low of $100.50 and a 52 week high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.16. The business had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.18 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 0.5%. Advanced Drainage Systems's dividend payout ratio is 11.98%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WMS shares. Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a report on Friday, February 6th. Barclays decreased their target price on Advanced Drainage Systems from $198.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday. KeyCorp upped their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, February 6th. Weiss Ratings restated a "hold (c)" rating on shares of Advanced Drainage Systems in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada upped their target price on Advanced Drainage Systems from $176.00 to $205.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $191.00.

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.

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