Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 92.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 136,718 shares of the construction company's stock after acquiring an additional 65,760 shares during the period. Millennium Management LLC owned approximately 0.18% of Advanced Drainage Systems worth $15,805,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WMS. Norges Bank purchased a new position in shares of Advanced Drainage Systems during the fourth quarter worth $86,185,000. Impax Asset Management Group plc boosted its position in shares of Advanced Drainage Systems by 34.6% during the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company's stock worth $291,723,000 after buying an additional 650,052 shares during the period. First Trust Advisors LP boosted its position in shares of Advanced Drainage Systems by 45.8% during the fourth quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock worth $200,315,000 after buying an additional 544,109 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Advanced Drainage Systems during the fourth quarter worth $46,997,000. Finally, Amundi boosted its position in shares of Advanced Drainage Systems by 72.2% during the fourth quarter. Amundi now owns 854,764 shares of the construction company's stock worth $98,678,000 after buying an additional 358,271 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 1.4%

Advanced Drainage Systems stock traded up $1.53 during midday trading on Tuesday, reaching $111.52. The company's stock had a trading volume of 839,916 shares, compared to its average volume of 602,758. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $179.57. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.65 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.13 and a beta of 1.31. The business has a 50-day simple moving average of $110.23 and a 200-day simple moving average of $117.40.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted 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 15.90% and a return on equity of 35.79%. The business had revenue of $615.76 million during 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. On average, research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.18 dividend. The ex-dividend date is Friday, May 30th. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.65%. Advanced Drainage Systems's dividend payout ratio (DPR) is currently 12.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WMS. KeyCorp reduced their price objective on 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. Barclays increased their price objective on Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Robert W. Baird reduced their price objective on 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. UBS Group reduced their price objective on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Oppenheimer reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.