Cerity Partners LLC Lowers Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Cerity Partners LLC cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 59.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,787 shares of the construction company's stock after selling 18,615 shares during the quarter. Cerity Partners LLC's holdings in Advanced Drainage Systems were worth $1,389,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Advanced Drainage Systems by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 7,332,268 shares of the construction company's stock worth $847,610,000 after purchasing an additional 52,799 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Advanced Drainage Systems by 14.8% in the 1st quarter. Impax Asset Management Group plc now owns 2,904,414 shares of the construction company's stock valued at $314,700,000 after acquiring an additional 374,414 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Advanced Drainage Systems by 63.2% during 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 worth $238,659,000 after acquiring an additional 799,569 shares in the last quarter. First Trust Advisors LP raised its position in shares of Advanced Drainage Systems by 45.8% during the 4th quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock worth $200,315,000 after acquiring an additional 544,109 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Advanced Drainage Systems by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,192,746 shares of the construction company's stock valued at $137,924,000 after purchasing an additional 5,868 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WMS. Wall Street Zen raised shares of Advanced Drainage Systems from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Barclays lifted their price target 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. UBS Group dropped their price target on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price objective for the company. Finally, KeyCorp lowered their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.88.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS traded down $0.84 during trading on Thursday, reaching $116.72. The company had a trading volume of 241,699 shares, compared to its average volume of 682,055. 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 debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.10. The stock's fifty day moving average price is $115.15 and its 200 day moving average price is $114.43. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24.

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 firm had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. During the same quarter in the previous year, the business 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, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently declared 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 of this dividend was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's dividend payout ratio (DPR) is currently 12.50%.

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.