Impax Asset Management Group plc Purchases 374,414 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Impax Asset Management Group plc raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 14.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,904,414 shares of the construction company's stock after purchasing an additional 374,414 shares during the quarter. Advanced Drainage Systems accounts for 1.9% of Impax Asset Management Group plc's holdings, making the stock its 12th largest holding. Impax Asset Management Group plc owned 3.74% of Advanced Drainage Systems worth $314,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in Advanced Drainage Systems by 76.2% during the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after purchasing an additional 115 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Advanced Drainage Systems by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company's stock valued at $68,616,000 after purchasing an additional 31,510 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Advanced Drainage Systems by 23.0% in the 4th quarter. Vident Advisory LLC now owns 1,907 shares of the construction company's stock valued at $220,000 after purchasing an additional 356 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Advanced Drainage Systems by 48.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,566 shares of the construction company's stock valued at $496,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Advanced Drainage Systems by 15.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,914 shares of the construction company's stock valued at $2,061,000 after purchasing an additional 2,559 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS traded up $3.39 during midday trading on Tuesday, hitting $119.06. 695,985 shares of the company's stock were exchanged, compared to its average volume of 629,093. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.10. The stock's 50 day moving average price is $115.29 and its 200-day moving average price is $114.45. The firm has a market cap of $9.24 billion, a P/E ratio of 20.67, a PEG ratio of 1.68 and a beta of 1.24. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.06). The company 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%. Advanced Drainage Systems's quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current 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 dividend of $0.18 per share. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, May 30th. Advanced Drainage Systems's payout ratio is 12.50%.

Analysts Set New Price Targets

Several analysts have commented on WMS shares. Robert W. Baird reduced their price objective on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price on the stock. UBS Group lowered their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Wall Street Zen cut Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Oppenheimer cut their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of "Moderate Buy" and an average target price of $139.88.

Advanced Drainage Systems Company 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.