Novem Group Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Novem Group purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,956 shares of the construction company's stock, valued at approximately $689,000.

A number of other large investors also recently modified their holdings of WMS. UMB Bank n.a. lifted its stake in Advanced Drainage Systems by 12.7% in the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock worth $90,000 after purchasing an additional 88 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter worth $94,000. First Horizon Advisors Inc. boosted its stake in Advanced Drainage Systems by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after buying an additional 137 shares during the period. Blue Trust Inc. boosted its stake in Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after buying an additional 108 shares during the period. Finally, Headlands Technologies LLC grew its position in Advanced Drainage Systems by 1,298.6% during the fourth quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock worth $118,000 after buying an additional 948 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Down 6.1%

Shares of NYSE WMS opened at $111.19 on Thursday. The stock has a market capitalization of $8.63 billion, a P/E ratio of 18.59, a PEG ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $181.03. The firm's 50 day simple moving average is $110.20 and its two-hundred day simple moving average is $118.82. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.06). The business had revenue of $615.76 million during the quarter, compared to analysts' expectations of $653.22 million. Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Advanced Drainage Systems's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. As a group, analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.18 per share. 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 dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, May 30th. Advanced Drainage Systems's dividend payout ratio (DPR) is 12.50%.

Analyst Ratings Changes

WMS has been the topic of several recent analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a report on Friday, February 7th. UBS Group lowered their target price on shares of 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. Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. KeyCorp lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com raised shares of Advanced Drainage Systems from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $139.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.