Amundi Increases Position in Advanced Drainage Systems, Inc. $WMS

Key Points

• Amundi increased its Advanced Drainage Systems stake by 0.7% in the first quarter, bringing its holdings to 1.29 million shares valued at approximately $176.7 million. Institutional investors collectively own 89.83% of the company.
• Advanced Drainage Systems reported quarterly EPS of $1.07, beating estimates by $0.12, while revenue rose 9.9% year over year to $676.76 million. The company also raised its quarterly dividend to $0.20 per share.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds, producing a consensus rating of “Moderate Buy” and an average price target of $187, above the stock’s reported $137.83 price.

Amundi lifted its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,288,672 shares of the construction company's stock after acquiring an additional 9,096 shares during the period. Amundi owned 1.65% of Advanced Drainage Systems worth $176,734,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock valued at $26,000 after acquiring an additional 176 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock worth $33,000 after purchasing an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advanced Drainage Systems during the third quarter worth $36,000. Kestra Advisory Services LLC acquired a new position in shares of Advanced Drainage Systems during the fourth quarter worth $37,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Advanced Drainage Systems during the fourth quarter worth $42,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

WMS opened at $137.83 on Friday. Advanced Drainage Systems, Inc. has a 12-month low of $110.85 and a 12-month high of $179.32. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $10.56 billion, a PE ratio of 25.34, a P/E/G ratio of 1.49 and a beta of 1.26. The firm has a 50 day moving average of $142.79 and a two-hundred day moving average of $148.39.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.95 by $0.12. The business had revenue of $676.76 million during the quarter, compared to analysts' expectations of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.20 per share. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems's dividend payout ratio (DPR) is 14.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WMS shares. Oppenheimer dropped their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. KeyCorp reiterated an "overweight" rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Zacks Research raised shares of Advanced Drainage Systems from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, UBS Group dropped their target price on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and a consensus price target of $187.00.

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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