Impax Asset Management Group plc Has $299.32 Million Position in Advanced Drainage Systems, Inc. $WMS

Key Points

• Impax Asset Management cut its stake in Advanced Drainage Systems by 17.3% in Q4, selling 433,353 shares and retaining 2,066,723 shares (about 2.66% of the company) valued at approximately $299.32 million; institutional ownership stands at about 89.8%.
• Wall Street is broadly bullish with seven Buy ratings and one Hold, an average price target of $190.29 (range roughly $181–$205), versus the recent share price of about $151.78, indicating notable analyst-implied upside.
• Advanced Drainage beat Q4 estimates with EPS of $1.27 vs. $1.11 and revenue of $693.35M vs. $686.37M, while reporting a 27.7% ROE and a one-year annualized dividend of $0.72 (≈0.5% yield).

Impax Asset Management Group plc reduced its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,066,723 shares of the construction company's stock after selling 433,353 shares during the quarter. Advanced Drainage Systems makes up 1.9% of Impax Asset Management Group plc's investment portfolio, making the stock its 13th largest holding. Impax Asset Management Group plc owned approximately 2.66% of Advanced Drainage Systems worth $299,323,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG lifted its holdings in Advanced Drainage Systems by 434.3% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 21,511 shares of the construction company's stock worth $3,115,000 after purchasing an additional 17,485 shares during the last quarter. HB Wealth Management LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter worth approximately $212,000. Journey Advisory Group LLC lifted its holdings in Advanced Drainage Systems by 113.9% in the 4th quarter. Journey Advisory Group LLC now owns 3,627 shares of the construction company's stock worth $525,000 after purchasing an additional 1,931 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Advanced Drainage Systems by 87.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,270 shares of the construction company's stock worth $19,736,000 after purchasing an additional 63,661 shares during the last quarter. Finally, CWM LLC lifted its holdings in Advanced Drainage Systems by 32.9% in the 4th quarter. CWM LLC now owns 933 shares of the construction company's stock worth $135,000 after purchasing an additional 231 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WMS shares. KeyCorp boosted their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Barclays cut 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. Royal Bank Of Canada upped their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Oppenheimer reiterated an "outperform" rating and set a $195.00 price target (down from $200.00) on shares of Advanced Drainage Systems in a report on Friday, April 17th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Advanced Drainage Systems in a report on Monday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $190.29.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $151.78 on Friday. The business has a fifty day simple moving average of $150.12 and a 200 day simple moving average of $149.86. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.60 and a beta of 1.37. Advanced Drainage Systems, Inc. has a one year low of $104.69 and a one year high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The business had revenue of $693.35 million during the quarter, compared to analyst estimates of $686.37 million. During the same period in the prior year, the company posted $1.09 earnings per share. Advanced Drainage Systems's revenue was up .4% on a year-over-year basis. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.19 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, March 2nd. Advanced Drainage Systems's dividend payout ratio is 11.98%.

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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