Kingsview Wealth Management LLC Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Kingsview Wealth Management LLC purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,859 shares of the construction company's stock, valued at approximately $745,000.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Advanced Drainage Systems in the first quarter valued at about $26,000. Bessemer Group Inc. lifted its holdings in Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after acquiring an additional 115 shares during the period. Mascagni Wealth Management Inc. bought a new position in Advanced Drainage Systems in the fourth quarter valued at about $74,000. Signaturefd LLC lifted its holdings in Advanced Drainage Systems by 110.7% in the first quarter. Signaturefd LLC now owns 670 shares of the construction company's stock valued at $73,000 after acquiring an additional 352 shares during the period. Finally, GAMMA Investing LLC increased its position in Advanced Drainage Systems by 167.1% in 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. Institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Robert W. Baird reduced their price target on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Loop Capital cut their target price on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, May 16th. UBS Group cut their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Barclays increased their target price on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Advanced Drainage Systems from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and an average target price of $139.88.

Advanced Drainage Systems Price Performance

NYSE WMS traded up $0.45 during trading on Friday, hitting $117.44. 150,476 shares of the stock traded hands, compared to its average volume of 680,368. The company has a market capitalization of $9.12 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The firm has a 50-day simple moving average of $115.04 and a 200-day simple moving average of $114.47. 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 12-month low of $93.92 and a 12-month high of $179.57.

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

Advanced Drainage Systems Increases Dividend

The business 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 represents a $0.72 annualized dividend and a dividend yield of 0.61%. 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. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 12.50%.

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.