Janney Montgomery Scott LLC Grows Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Janney Montgomery Scott LLC lifted its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its position in 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 period. State of New Jersey Common Pension Fund D lifted its stake in shares of Advanced Drainage Systems by 2.8% in the fourth 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 buying an additional 704 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Advanced Drainage Systems by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company's stock valued at $276,000 after buying an additional 119 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Advanced Drainage Systems by 1.1% during the fourth quarter. New York State Common Retirement Fund now owns 163,322 shares of the construction company's stock worth $18,880,000 after acquiring an additional 1,797 shares in the last quarter. Finally, Jessup Wealth Management Inc increased its position in shares of Advanced Drainage Systems by 69.7% during the fourth quarter. Jessup Wealth Management Inc now owns 3,659 shares of the construction company's stock worth $423,000 after acquiring an additional 1,503 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock traded down $0.62 during mid-day trading on Thursday, reaching $112.96. 773,266 shares of the company's stock were exchanged, compared to its average volume of 618,258. The business's fifty day simple moving average is $112.42 and its 200 day simple moving average is $115.45. 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, Inc. has a one year low of $93.92 and a one year high of $179.57. The firm has a market capitalization of $8.77 billion, a PE ratio of 19.61, a P/E/G ratio of 1.65 and a beta of 1.25.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results 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 business had revenue of $615.76 million for the quarter, compared to the consensus estimate of $653.22 million. Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The company's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.18 dividend. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.64%. Advanced Drainage Systems's payout ratio is currently 12.50%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Loop Capital cut their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Wall Street Zen cut Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price target for the company. UBS Group cut their price objective on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Barclays upped their target price on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and an average price target of $139.88.

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.