Bank of New York Mellon Corp Lowers Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Bank of New York Mellon Corp trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 580,864 shares of the construction company's stock after selling 10,688 shares during the period. Bank of New York Mellon Corp owned 0.75% of Advanced Drainage Systems worth $63,111,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WMS. Bessemer Group Inc. increased its position in Advanced Drainage Systems by 76.2% during the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after purchasing an additional 115 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Advanced Drainage Systems by 15.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,914 shares of the construction company's stock worth $2,061,000 after acquiring an additional 2,559 shares during the period. Vident Advisory LLC raised its position in Advanced Drainage Systems by 23.0% in the fourth quarter. Vident Advisory LLC now owns 1,907 shares of the construction company's stock worth $220,000 after acquiring an additional 356 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Advanced Drainage Systems by 48.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,566 shares of the construction company's stock worth $496,000 after acquiring an additional 1,487 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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 period. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Stock Down 1.5%

WMS stock opened at $120.37 on Friday. The company has a 50 day moving average price of $115.67 and a two-hundred day moving average price of $114.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. The stock has a market capitalization of $9.35 billion, a P/E ratio of 20.90, a PEG ratio of 1.77 and a beta of 1.24. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $615.76 million during the quarter, compared to analysts' expectations of $653.22 million. During the same period in the prior year, the firm earned $1.23 EPS. Advanced Drainage Systems's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS 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. This represents a $0.72 dividend on an annualized basis and a yield of 0.60%. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 30th. Advanced Drainage Systems's payout ratio is presently 12.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays boosted their price target on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price on the stock. UBS Group lowered their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a report on Friday, May 16th. KeyCorp cut their price target on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer decreased their price objective on shares of 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $139.88.

Advanced Drainage Systems 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.

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