Cibc World Market Inc. Acquires Shares of 8,145 Advanced Drainage Systems, Inc. $WMS

Key Points

• Cibc World Market Inc. acquired 8,145 shares of Advanced Drainage Systems in the second quarter, valued at approximately $1.28 million. Institutional investors collectively own 89.83% of the company.
• Advanced Drainage Systems reported quarterly earnings of $2.49 per share, beating estimates of $2.10, while revenue rose 20.6% year over year to approximately $1 billion.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $188.70. The company also declared a quarterly dividend of $0.20 per share, equivalent to a 0.6% yield.

Cibc World Market Inc. acquired a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,145 shares of the construction company's stock, valued at approximately $1,278,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock valued at $26,000 after purchasing an additional 176 shares during the last quarter. Allworth Financial LP bought a new position in Advanced Drainage Systems during the second quarter worth $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock valued at $33,000 after purchasing an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advanced Drainage Systems in the third quarter valued at $36,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Advanced Drainage Systems in the fourth quarter valued at about $37,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. DA Davidson started coverage on shares of Advanced Drainage Systems in a research note on Tuesday. They issued a "buy" rating and a $190.00 price target on the stock. Oppenheimer lowered their price target on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a report on Tuesday, May 26th. Royal Bank Of Canada raised their price objective on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Finally, Zacks Research upgraded shares of Advanced Drainage Systems from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of "Moderate Buy" and an average target price of $188.70.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $139.16 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.12 and a quick ratio of 1.18. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 1.55 and a beta of 1.27. The stock's fifty day moving average price is $146.19 and its two-hundred day moving average price is $146.54. Advanced Drainage Systems, Inc. has a one year low of $128.03 and a one year high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.39. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company's revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 earnings per share. On average, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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

About Advanced Drainage Systems

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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