Amundi Buys 65,938 Shares of Advanced Drainage Systems, Inc. $WMS

Key Points

• Amundi increased its Advanced Drainage Systems position by 5.1% in the second quarter, adding 65,938 shares and bringing its holdings to 1.35 million shares worth approximately $212.7 million. Institutional investors collectively own 89.83% of WMS.
• Analysts maintain a positive outlook, with an overall “Moderate Buy” rating and an average price target of $188.70. Recent targets range from $178 to $207.
• Advanced Drainage Systems reported stronger-than-expected quarterly results, earning $2.49 per share on roughly $1 billion in revenue, with revenue up 20.6% year over year. The company also announced a quarterly dividend of $0.20 per share, yielding 0.6%.

Amundi lifted its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 5.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,354,610 shares of the construction company's stock after purchasing an additional 65,938 shares during the period. Amundi owned 1.80% of Advanced Drainage Systems worth $212,681,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WMS. Groupe la Francaise purchased a new position in shares of Advanced Drainage Systems during the second quarter valued at $157,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Advanced Drainage Systems during the 2nd quarter valued at about $3,297,000. California State Teachers Retirement System raised its holdings in shares of Advanced Drainage Systems by 15,172.0% in the 2nd quarter. California State Teachers Retirement System now owns 13,246,953 shares of the construction company's stock valued at $2,079,242,000 after purchasing an additional 13,160,213 shares in the last quarter. Wedmont Private Capital bought a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at about $228,000. Finally, AlphaGrep UK Ltd purchased a new stake in shares of Advanced Drainage Systems in the 2nd quarter worth approximately $239,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WMS has been the topic of several research reports. Robert W. Baird set a $206.00 price objective on shares of Advanced Drainage Systems in a report on Friday, August 7th. UBS Group increased their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the company a "buy" rating in a research report on Friday, August 7th. KeyCorp reiterated an "overweight" rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. DA Davidson initiated coverage on Advanced Drainage Systems in a research report on Tuesday, August 25th. They issued a "buy" rating and a $190.00 price target for the company. Finally, Royal Bank Of Canada upped their price objective on Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $188.70.

Advanced Drainage Systems Trading Down 1.5%

Advanced Drainage Systems stock opened at $133.66 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The stock has a market cap of $10.08 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.48 and a beta of 1.28. The stock has a 50-day moving average of $143.75 and a two-hundred day moving average of $144.46. Advanced Drainage Systems, Inc. has a one year low of $128.03 and a one year high of $179.32.

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

Advanced Drainage Systems Dividend Announcement

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

About Advanced Drainage Systems

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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