Bank of New York Mellon Corp Makes New $74.10 Million Investment in Advanced Drainage Systems, Inc. $WMS

Key Points

• Bank of New York Mellon initiated a $74.1 million position in Advanced Drainage Systems, purchasing 472,119 shares, while institutional investors collectively own 89.83% of the company.
• Advanced Drainage Systems reported quarterly EPS of $2.49, beating estimates by $0.39, while revenue rose 20.6% year over year to approximately $1 billion.
• Analysts maintain a Moderate Buy consensus with an average price target of $188.70, and the company declared a quarterly dividend of $0.20 per share.

Bank of New York Mellon Corp bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 472,119 shares of the construction company's stock, valued at approximately $74,104,000. Bank of New York Mellon Corp owned about 0.62% of Advanced Drainage Systems as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Captrust Financial Advisors lifted its holdings in Advanced Drainage Systems by 2.8% during the fourth quarter. Captrust Financial Advisors now owns 2,170 shares of the construction company's stock worth $314,000 after acquiring an additional 60 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of Advanced Drainage Systems by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 16,007 shares of the construction company's stock valued at $2,318,000 after purchasing an additional 63 shares during the last quarter. MML Investors Services LLC increased its position in shares of Advanced Drainage Systems by 3.4% during the 4th quarter. MML Investors Services LLC now owns 1,961 shares of the construction company's stock valued at $284,000 after purchasing an additional 64 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Advanced Drainage Systems by 24.4% during the 4th quarter. Larson Financial Group LLC now owns 377 shares of the construction company's stock valued at $55,000 after purchasing an additional 74 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in shares of Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock worth $33,000 after purchasing an additional 107 shares during the period. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Trading Up 0.8%

Shares of WMS opened at $141.52 on Wednesday. Advanced Drainage Systems, Inc. has a fifty-two week low of $128.03 and a fifty-two week high of $179.32. The business has a 50-day moving average of $146.30 and a 200 day moving average of $147.00. The firm has a market cap of $10.67 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.10 by $0.39. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The company's revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems's dividend payout ratio is presently 13.82%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WMS shares. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They issued a "buy" rating and a $175.00 price target on the stock. Barclays lifted their price objective on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. National Bank Financial set a $190.00 target price on shares of Advanced Drainage Systems in a research note on Monday. UBS Group increased their target price on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $206.00 price target on shares of Advanced Drainage Systems in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and a consensus target price of $188.70.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.

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