ELCO Management Co. LLC Purchases 2,676 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

ELCO Management Co. LLC boosted its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 115.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,995 shares of the construction company's stock after acquiring an additional 2,676 shares during the quarter. ELCO Management Co. LLC's holdings in Advanced Drainage Systems were worth $543,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WMS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 worth $238,659,000 after purchasing an additional 799,569 shares during the period. Norges Bank acquired a new stake in Advanced Drainage Systems in the fourth quarter worth about $86,185,000. First Trust Advisors LP increased its position in 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 worth $200,315,000 after purchasing an additional 544,109 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in Advanced Drainage Systems in the fourth quarter worth about $46,997,000. Finally, Impax Asset Management Group plc increased its position in 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 worth $314,700,000 after purchasing an additional 374,414 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WMS shares. Wall Street Zen lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. UBS Group decreased their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price for the company. Barclays boosted their target price on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, KeyCorp decreased their target price on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One 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 presently has a consensus rating of "Moderate Buy" and an average target price of $139.88.

Advanced Drainage Systems Stock Down 2.3%

Shares of NYSE:WMS traded down $2.60 during trading on Wednesday, hitting $110.82. 838,535 shares of the company's stock traded hands, compared to its average volume of 632,661. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $179.57. 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 company has a market cap of $8.60 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The company has a 50-day moving average price of $115.71 and a 200-day moving average price of $114.51.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). The firm had revenue of $615.76 million during the quarter, compared to the consensus estimate of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The company's revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

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

About Advanced Drainage Systems

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.