Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 171,222 shares of the construction company's stock after purchasing an additional 7,312 shares during the quarter. Janney Montgomery Scott LLC owned about 0.22% of Advanced Drainage Systems worth $18,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WMS. Asset Management One Co. Ltd. raised its position in shares of Advanced Drainage Systems by 2.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 15,408 shares of the construction company's stock valued at $1,781,000 after purchasing an additional 296 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Advanced Drainage Systems by 2.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,416 shares of the construction company's stock valued at $2,938,000 after purchasing an additional 704 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Advanced Drainage Systems by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company's stock valued at $276,000 after purchasing an additional 119 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Advanced Drainage Systems by 1.1% in the 4th quarter. New York State Common Retirement Fund now owns 163,322 shares of the construction company's stock worth $18,880,000 after buying an additional 1,797 shares during the period. Finally, Jessup Wealth Management Inc increased its holdings in Advanced Drainage Systems by 69.7% in the 4th quarter. Jessup Wealth Management Inc now owns 3,659 shares of the construction company's stock worth $423,000 after buying an additional 1,503 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price target on the stock. KeyCorp cut their price target on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen downgraded shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Loop Capital cut their price target on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.88.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS traded up $1.12 during midday trading on Friday, reaching $114.12. 1,822,509 shares of the stock were exchanged, compared to its average volume of 620,913. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.66 and a beta of 1.25. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $179.57. The firm has a 50-day simple moving average of $112.80 and a two-hundred day simple moving average of $115.04. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.06). The firm had revenue of $615.76 million for the quarter, compared to analyst estimates of $653.22 million. Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. Advanced Drainage Systems's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 0.63%. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's dividend payout ratio (DPR) is currently 12.50%.

About Advanced Drainage Systems

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.