Assenagon Asset Management S.A. Sells 94,867 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Assenagon Asset Management S.A. lowered its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 98.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,897 shares of the construction company's stock after selling 94,867 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Advanced Drainage Systems were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in Advanced Drainage Systems in the first quarter valued at about $26,000. Mascagni Wealth Management Inc. bought a new position in Advanced Drainage Systems in the fourth quarter valued at about $74,000. GAMMA Investing LLC grew its position in Advanced Drainage Systems by 167.1% in the first quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock valued at $88,000 after acquiring an additional 508 shares during the last quarter. First Horizon Advisors Inc. grew its position in Advanced Drainage Systems by 18.3% in the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after acquiring an additional 137 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in Advanced Drainage Systems by 1,298.6% in the fourth quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock valued at $118,000 after acquiring an additional 948 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Oppenheimer decreased their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. KeyCorp decreased their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird decreased their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Wall Street Zen cut Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Barclays boosted their price target on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $139.88.

Advanced Drainage Systems Trading Up 1.0%

Shares of NYSE:WMS traded up $1.12 during midday trading on Friday, hitting $114.12. 1,822,509 shares of the stock were exchanged, compared to its average volume of 620,913. The business's 50-day moving average price is $112.80 and its 200 day moving average price is $115.04. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $179.57. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The company had revenue of $615.76 million during the quarter, compared to the consensus estimate of $653.22 million. During the same quarter in the previous year, the company earned $1.23 earnings per share. The business's revenue was down 5.8% on a year-over-year basis. Analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 0.63%. Advanced Drainage Systems's dividend payout ratio is presently 12.50%.

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.