Assenagon Asset Management S.A. Has $4.21 Million Stock Holdings in Advanced Drainage Systems, Inc. $WMS

Key Points

• Assenagon Asset Management increased its Advanced Drainage Systems stake by 196.9% in the second quarter, bringing its holdings to 26,815 shares worth approximately $4.21 million. Institutional investors collectively own 89.83% of WMS.
• Advanced Drainage Systems reported strong quarterly results, with earnings per share of $2.49 beating estimates by $0.39 and revenue rising 20.6% year over year to $1 billion.
• The company declared a quarterly dividend of $0.20 per share, while analysts maintained a generally positive outlook; WMS has a “Moderate Buy” consensus rating and an average price target of $188.38.

Assenagon Asset Management S.A. lifted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 196.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,815 shares of the construction company's stock after buying an additional 17,783 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Advanced Drainage Systems were worth $4,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in shares of Advanced Drainage Systems by 2.8% in the fourth quarter. Captrust Financial Advisors now owns 2,170 shares of the construction company's stock worth $314,000 after acquiring an additional 60 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Advanced Drainage Systems by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 16,007 shares of the construction company's stock valued at $2,318,000 after purchasing an additional 63 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Advanced Drainage Systems by 3.4% during the fourth quarter. MML Investors Services LLC now owns 1,961 shares of the construction company's stock valued at $284,000 after purchasing an additional 64 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Advanced Drainage Systems by 24.4% during the fourth quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock valued at $55,000 after purchasing an additional 74 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock valued at $33,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Stock Down 2.2%

Shares of NYSE:WMS opened at $140.52 on Thursday. Advanced Drainage Systems, Inc. has a one year low of $128.03 and a one year high of $179.32. The company has a 50 day moving average of $144.30 and a 200-day moving average of $147.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.12 and a quick ratio of 1.18. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.57 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. During the same period in the prior year, the business posted $1.95 earnings per share. Advanced Drainage Systems's revenue was up 20.6% compared to the same quarter last year. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. KeyCorp reiterated an "overweight" rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a research report on Thursday, June 11th. They set a "buy" rating and a $175.00 target price for the company. Finally, Royal Bank Of Canada boosted their target price on Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $188.38.

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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