Jessup Wealth Management Inc Purchases 3,411 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Jessup Wealth Management Inc increased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 93.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,070 shares of the construction company's stock after acquiring an additional 3,411 shares during the quarter. Jessup Wealth Management Inc's holdings in Advanced Drainage Systems were worth $768,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. NBC Securities Inc. acquired a new stake in Advanced Drainage Systems during the first quarter worth about $26,000. Bessemer Group Inc. grew its stake in Advanced Drainage Systems by 76.2% during the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock worth $29,000 after buying an additional 115 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Advanced Drainage Systems during the fourth quarter worth about $74,000. GAMMA Investing LLC grew its stake in Advanced Drainage Systems by 167.1% during the first quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock worth $88,000 after buying an additional 508 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in Advanced Drainage Systems by 1,298.6% during the fourth quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock worth $118,000 after buying an additional 948 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Trading Up 2.4%

NYSE:WMS traded up $2.92 during mid-day trading on Thursday, hitting $122.41. 735,732 shares of the company's stock were exchanged, compared to its average volume of 630,203. The company has a 50 day simple moving average of $115.42 and a 200-day simple moving average of $114.49. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $179.57. The firm has a market capitalization of $9.50 billion, a P/E ratio of 21.25, a PEG ratio of 1.73 and a beta of 1.24.

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

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.18 per share. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 0.59%. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 12.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer reduced their price objective on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Loop Capital reduced their price objective on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price target on the stock. Finally, KeyCorp reduced 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 research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.