Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,705 shares of the construction company's stock after purchasing an additional 7,165 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Advanced Drainage Systems worth $7,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WMS. NBC Securities Inc. acquired a new position in Advanced Drainage Systems in the 1st quarter valued at about $26,000. Bessemer Group Inc. grew its position in Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after acquiring an additional 115 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Advanced Drainage Systems during the fourth quarter worth $74,000. GAMMA Investing LLC raised its position in Advanced Drainage Systems by 167.1% in the first quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock valued at $88,000 after purchasing an additional 508 shares during the period. Finally, Headlands Technologies LLC lifted its stake in shares of Advanced Drainage Systems by 1,298.6% in the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock valued at $118,000 after purchasing an additional 948 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Analysts Set New Price Targets

WMS has been the subject of a number of recent analyst reports. Oppenheimer cut their price objective on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. UBS Group lowered their target price on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Barclays lifted their price target on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Loop Capital decreased their price objective on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $139.88.

Advanced Drainage Systems Stock Up 1.3%

WMS traded up $1.57 during trading hours on Friday, hitting $118.56. 476,180 shares of the company's stock were exchanged, compared to its average volume of 644,530. The firm has a market cap of $9.21 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month 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 firm has a 50 day moving average of $114.97 and a 200 day moving average of $114.50.

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

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 yield of 0.61%. This is a positive change 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.