Ballentine Partners LLC Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Ballentine Partners LLC purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,544 shares of the construction company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its position in Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after acquiring an additional 115 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Advanced Drainage Systems by 4.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 4,024 shares of the construction company's stock valued at $454,000 after purchasing an additional 157 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Advanced Drainage Systems by 9.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,175 shares of the construction company's stock worth $250,000 after purchasing an additional 194 shares in the last quarter. State of Michigan Retirement System increased its position in Advanced Drainage Systems by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 16,900 shares of the construction company's stock worth $1,836,000 after purchasing an additional 200 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Advanced Drainage Systems by 2.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,225 shares of the construction company's stock valued at $951,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Trading Down 0.7%

WMS stock traded down $0.81 during trading on Friday, hitting $111.77. The company had a trading volume of 646,538 shares, compared to its average volume of 633,001. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $179.57. The business has a 50-day moving average of $115.64 and a 200-day moving average of $114.50. The stock has a market cap of $8.68 billion, a PE ratio of 19.40, a PEG ratio of 1.61 and a beta of 1.24.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). The firm had revenue of $615.76 million for the quarter, compared to analyst estimates of $653.22 million. Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 earnings per share. Research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.18 dividend. The ex-dividend date was Friday, May 30th. 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 0.64%. Advanced Drainage Systems's dividend payout ratio (DPR) is 12.50%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WMS shares. Loop Capital decreased their target price on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Oppenheimer reduced their price objective 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. UBS Group dropped their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company 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 report on Thursday, May 22nd. Finally, KeyCorp dropped 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $139.88.

Advanced Drainage Systems Company Profile

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.