Hsbc Holdings PLC Has $5.05 Million Holdings in Advanced Drainage Systems, Inc. $WMS

Key Points

• HSBC Holdings PLC increased its stake in Advanced Drainage Systems by 61.6% in the first quarter, bringing its holdings to 37,093 shares valued at about $5.05 million.
• Several other institutional investors also added to or initiated positions in WMS, and institutions and hedge funds now own 89.83% of the company’s stock.
• Advanced Drainage Systems reported quarterly earnings and revenue that beat Wall Street estimates, and it recently raised its dividend to $0.20 per share from $0.18.

Hsbc Holdings PLC boosted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 61.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,093 shares of the construction company's stock after purchasing an additional 14,137 shares during the period. Hsbc Holdings PLC's holdings in Advanced Drainage Systems were worth $5,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WMS. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock valued at $26,000 after purchasing an additional 176 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock worth $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Advanced Drainage Systems during the third quarter worth about $36,000. Kestra Advisory Services LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter valued at approximately $37,000. Finally, Clearstead Advisors LLC raised its position in Advanced Drainage Systems by 150.8% in the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company's stock valued at $44,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Wall Street Analyst Weigh In

WMS has been the subject of a number of recent research reports. Stephens raised Advanced Drainage Systems from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. KeyCorp reiterated an "overweight" rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Oppenheimer cut their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 26th. UBS Group cut their price objective on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.00.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $140.66 on Friday. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.53 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. The company has a 50-day simple moving average of $142.16 and a 200 day simple moving average of $148.77. Advanced Drainage Systems, Inc. has a 52 week low of $110.85 and a 52 week high of $179.32.

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

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems's dividend 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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