Gryphon Financial Partners LLC Buys New Position in Advanced Drainage Systems, Inc. $WMS

Key Points

• Gryphon Financial Partners LLC opened a new position in Advanced Drainage Systems in Q1, buying 27,447 shares valued at about $3.76 million.
• Other institutional investors also adjusted holdings, and institutions now own 89.83% of the company’s stock, underscoring strong institutional interest in WMS.
• Advanced Drainage Systems reported better-than-expected earnings for the latest quarter, boosted its quarterly dividend to $0.20 per share, and Wall Street currently has a Moderate Buy consensus with an average price target of $187.

Gryphon Financial Partners LLC purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,447 shares of the construction company's stock, valued at approximately $3,764,000.

Several other large investors have also added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. lifted its position in shares of Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock worth $26,000 after purchasing an additional 176 shares during the period. Baird Financial Group Inc. raised its stake in Advanced Drainage Systems by 1.8% in the second quarter. Baird Financial Group Inc. now owns 21,049 shares of the construction company's stock worth $2,418,000 after buying an additional 382 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Advanced Drainage Systems by 14.0% in the second quarter. Brown Advisory Inc. now owns 4,784 shares of the construction company's stock worth $549,000 after buying an additional 588 shares during the period. Jump Financial LLC purchased a new stake in Advanced Drainage Systems in the second quarter worth about $403,000. Finally, California Public Employees Retirement System boosted its position in Advanced Drainage Systems by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 101,512 shares of the construction company's stock valued at $11,660,000 after acquiring an additional 2,206 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WMS. Stephens upgraded Advanced Drainage Systems from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $190.00 to $175.00 in a report on Wednesday, May 27th. Weiss Ratings restated a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Monday, April 20th. KeyCorp reaffirmed an "overweight" rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. UBS Group reduced their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada increased their price objective on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $187.00.

Advanced Drainage Systems Price Performance

Shares of WMS opened at $147.62 on Friday. Advanced Drainage Systems, Inc. has a fifty-two week low of $110.79 and a fifty-two week high of $179.32. The firm's 50-day simple moving average is $142.09 and its two-hundred day simple moving average is $148.92. The stock has a market cap of $11.31 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26. 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 posted its quarterly earnings results 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 analyst estimates 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. Analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.5%. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 1st. Advanced Drainage Systems's payout ratio is 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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