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

Assenagon Asset Management S.A. decreased its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 98.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,897 shares of the construction company's stock after selling 94,867 shares during the period. 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 have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Drainage Systems by 63.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company's stock valued at $238,659,000 after buying an additional 799,569 shares in the last quarter. Norges Bank bought a new stake in Advanced Drainage Systems in the fourth quarter worth $86,185,000. Impax Asset Management Group plc increased its position in Advanced Drainage Systems by 34.6% during the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company's stock worth $291,723,000 after buying an additional 650,052 shares during the last quarter. First Trust Advisors LP raised its holdings in Advanced Drainage Systems by 45.8% during the fourth quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock valued at $200,315,000 after buying an additional 544,109 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter worth about $46,997,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

NYSE WMS traded up $1.28 during midday trading on Tuesday, hitting $118.20. The company had a trading volume of 616,359 shares, compared to its average volume of 621,468. The firm has a fifty day simple moving average of $113.02 and a two-hundred day simple moving average of $114.85. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $179.57. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.66 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly 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 firm had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. During the same period last year, the company earned $1.23 EPS. The company's revenue was down 5.8% on a year-over-year basis. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.18 dividend. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, May 30th. Advanced Drainage Systems's dividend payout ratio is currently 12.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WMS. Robert W. Baird lowered their price objective on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Loop Capital lowered their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Oppenheimer reduced their price objective on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. KeyCorp decreased their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $139.88.

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.