Edgestream Partners L.P. Invests $5.59 Million in Advanced Drainage Systems, Inc. (NYSE:WMS)

Edgestream Partners L.P. purchased a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 51,402 shares of the construction company's stock, valued at approximately $5,585,000. Edgestream Partners L.P. owned approximately 0.07% of Advanced Drainage Systems as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Advanced Drainage Systems by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 7,332,268 shares of the construction company's stock worth $847,610,000 after acquiring an additional 52,799 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of Advanced Drainage Systems by 14.8% in the first quarter. Impax Asset Management Group plc now owns 2,904,414 shares of the construction company's stock valued at $314,700,000 after buying an additional 374,414 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Advanced Drainage Systems by 63.2% in the fourth 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 valued at $238,659,000 after buying an additional 799,569 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Advanced Drainage Systems by 45.8% in the fourth quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock valued at $200,315,000 after buying an additional 544,109 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Advanced Drainage Systems by 1.2% in the fourth quarter. American Century Companies Inc. now owns 1,402,447 shares of the construction company's stock valued at $162,123,000 after buying an additional 16,415 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Stock Performance

Shares of WMS traded down $1.37 during midday trading on Friday, reaching $111.22. 178,217 shares of the stock were exchanged, compared to its average volume of 687,593. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $179.57. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90. The company has a market cap of $8.63 billion, a P/E ratio of 19.31, a PEG ratio of 1.61 and a beta of 1.24. The stock's 50 day simple moving average is $115.64 and its 200 day simple moving average is $114.50.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.06). The company had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's payout ratio is currently 12.50%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WMS. KeyCorp decreased 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 research note on Tuesday, April 8th. Oppenheimer decreased their target price on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. UBS Group cut their price target on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a report on Friday, May 16th. Loop Capital cut their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a report on Friday, May 16th. Finally, Robert W. Baird cut their price target on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.88.

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.