Kingsview Wealth Management LLC Buys New Position in Advanced Drainage Systems, Inc. $WMS

Key Points

• Kingsview Wealth Management initiated a position in Advanced Drainage Systems, buying 8,529 shares valued at approximately $1.34 million. Institutional investors collectively own 89.83% of WMS.
• Advanced Drainage Systems reported quarterly EPS of $2.49, beating estimates by $0.39, while revenue rose 20.6% year over year to about $1 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $188.70 versus the stock’s reported $137.11 price. The company also declared a quarterly dividend of $0.20 per share.

Kingsview Wealth Management LLC purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,529 shares of the construction company's stock, valued at approximately $1,339,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP acquired a new position in shares of Advanced Drainage Systems during the second quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock worth $26,000 after purchasing an additional 176 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock worth $33,000 after purchasing an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Advanced Drainage Systems during the 3rd quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Advanced Drainage Systems in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

WMS opened at $137.11 on Friday. Advanced Drainage Systems, Inc. has a 12-month low of $128.03 and a 12-month high of $179.32. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $10.34 billion, a PE ratio of 23.68, a P/E/G ratio of 1.50 and a beta of 1.27. The firm has a 50 day moving average of $145.99 and a two-hundred day moving average of $146.47.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.10 by $0.39. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The business's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Advanced Drainage Systems's dividend payout ratio is presently 13.82%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WMS. Oppenheimer lowered their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating for the company in a research note on Tuesday, May 26th. Stephens raised Advanced Drainage Systems from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. UBS Group raised their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. Finally, National Bank Financial set a $190.00 price target on Advanced Drainage Systems in a research note on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.70.

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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