Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Novem Group

Novem Group raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 36.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,111 shares of the construction company's stock after buying an additional 2,155 shares during the quarter. Novem Group's holdings in Advanced Drainage Systems were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. lifted 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 purchasing an additional 115 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Advanced Drainage Systems by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company's stock worth $68,616,000 after acquiring an additional 31,510 shares in the last quarter. Vident Advisory LLC boosted its holdings in Advanced Drainage Systems by 23.0% during the 4th quarter. Vident Advisory LLC now owns 1,907 shares of the construction company's stock valued at $220,000 after acquiring an additional 356 shares during the period. Oppenheimer Asset Management Inc. grew its position in Advanced Drainage Systems by 48.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,566 shares of the construction company's stock valued at $496,000 after acquiring an additional 1,487 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Advanced Drainage Systems by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 8,265 shares of the construction company's stock worth $897,000 after purchasing an additional 220 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Down 2.5%

Shares of NYSE WMS 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 694,966. The firm has a 50 day simple moving average of $115.11 and a two-hundred day simple moving average of $114.41. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $179.57. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90. The stock has a market cap of $8.99 billion, a P/E 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 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 firm had revenue of $615.76 million for the quarter, compared to analysts' expectations of $653.22 million. Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 30th. Advanced Drainage Systems's payout ratio is presently 12.50%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WMS. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price objective for the company. Oppenheimer dropped their price target on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. UBS Group decreased their target price on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a report on Friday, May 16th. Loop Capital lowered their target price on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Barclays lifted 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.