Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 0.75% of Advanced Drainage Systems worth $63,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Advanced Drainage Systems during the first quarter worth about $26,000. Bessemer Group Inc. lifted its position in Advanced Drainage Systems by 76.2% in the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after acquiring an additional 115 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Advanced Drainage Systems in the 4th quarter valued at approximately $74,000. GAMMA Investing LLC raised its stake in Advanced Drainage Systems by 167.1% during the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock valued at $88,000 after buying an additional 508 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of Advanced Drainage Systems by 1,298.6% in the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock worth $118,000 after purchasing an additional 948 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WMS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price for the company. UBS Group lowered their target price on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a report on Friday, May 16th. Barclays raised their target price on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. KeyCorp dropped their target price 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, Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research note 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.88.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock traded down $3.04 during midday trading on Tuesday, reaching $113.48. The company's stock had a trading volume of 463,324 shares, compared to its average volume of 631,021. The business has a 50-day moving average price of $115.67 and a 200-day moving average price of $114.54. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90. The stock has a market cap of $8.81 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings results 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). Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The firm had revenue of $615.76 million for the quarter, compared to the consensus estimate of $653.22 million. During the same quarter in the previous year, the company posted $1.23 EPS. The firm's revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

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

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.