Jessup Wealth Management Inc Has $768,000 Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Jessup Wealth Management Inc lifted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 93.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,070 shares of the construction company's stock after purchasing 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 SEC filing.

Several other hedge funds also recently modified their holdings of WMS. NBC Securities Inc. acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth $26,000. Bessemer Group Inc. increased its stake in shares of 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 during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Advanced Drainage Systems during the 4th quarter worth $74,000. GAMMA Investing LLC increased its stake in shares of Advanced Drainage Systems by 167.1% during the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock worth $88,000 after purchasing an additional 508 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in shares of Advanced Drainage Systems by 1,298.6% during the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock worth $118,000 after purchasing an additional 948 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WMS shares. Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Oppenheimer decreased their price objective on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Wall Street Zen downgraded shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. KeyCorp decreased their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, UBS Group decreased their price objective on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a 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 issued a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems has an average rating of "Moderate Buy" and a consensus price target of $139.88.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock traded down $3.00 during mid-day trading on Monday, reaching $115.80. The company had a trading volume of 607,150 shares, compared to its average volume of 628,105. 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 52 week low of $93.92 and a 52 week high of $179.57. The company has a 50 day moving average of $115.11 and a 200-day moving average of $114.41. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.72 and a beta of 1.24.

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

Advanced Drainage Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.18 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.62%. Advanced Drainage Systems's dividend payout ratio is currently 12.50%.

Advanced Drainage Systems 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.