Geode Capital Management LLC Increases Stock Holdings in Advanced Drainage Systems, Inc. $WMS

Key Points

• Geode Capital Management increased its stake in Advanced Drainage Systems by 1.2% in the fourth quarter, bringing its holdings to 1.27 million shares valued at about $184.2 million.
• The company reported a strong quarterly update, with EPS of $1.07 and revenue of $676.8 million, both topping analyst expectations. Revenue also rose 9.9% year over year.
• Advanced Drainage Systems also raised its quarterly dividend to $0.20 per share from $0.18, while analysts currently view the stock as a Moderate Buy with a consensus price target of $187.

Geode Capital Management LLC raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,271,453 shares of the construction company's stock after purchasing an additional 15,069 shares during the quarter. Geode Capital Management LLC owned 1.64% of Advanced Drainage Systems worth $184,184,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Advanced Drainage Systems by 3.1% in the 3rd quarter. State Street Corp now owns 2,551,901 shares of the construction company's stock valued at $353,949,000 after purchasing an additional 75,777 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Advanced Drainage Systems by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 2,416,942 shares of the construction company's stock valued at $335,230,000 after buying an additional 238,179 shares during the period. American Century Companies Inc. lifted its holdings in shares of Advanced Drainage Systems by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 1,472,176 shares of the construction company's stock valued at $204,191,000 after buying an additional 90,106 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Advanced Drainage Systems by 234.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company's stock valued at $164,901,000 after buying an additional 832,929 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Advanced Drainage Systems by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,378 shares of the construction company's stock valued at $157,889,000 after buying an additional 16,118 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on WMS shares. KeyCorp reduced their price target on Advanced Drainage Systems from $198.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $168.00 price target on shares of Advanced Drainage Systems in a report on Friday, May 22nd. Barclays reduced their price target on Advanced Drainage Systems from $198.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. Finally, UBS Group reduced their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.00.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $132.92 on Thursday. The stock has a fifty day moving average price of $142.19 and a 200 day moving average price of $149.69. The stock has a market cap of $10.18 billion, a PE ratio of 24.43, a P/E/G ratio of 1.46 and a beta of 1.29. Advanced Drainage Systems, Inc. has a 1 year low of $109.63 and a 1 year high of $179.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The firm had revenue of $676.76 million during the quarter, compared to analysts' expectations of $651.92 million. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.Advanced Drainage Systems's revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.20 per share. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Advanced Drainage Systems's payout ratio is presently 14.71%.

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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