Perpetual Ltd Purchases 22,445 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Perpetual Ltd grew its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 28.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,330 shares of the construction company's stock after acquiring an additional 22,445 shares during the quarter. Perpetual Ltd owned 0.13% of Advanced Drainage Systems worth $11,118,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Advanced Drainage Systems in the first quarter valued at $26,000. Bessemer Group Inc. raised its stake in shares of Advanced Drainage Systems by 76.2% in the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company's stock valued at $29,000 after buying an additional 115 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Advanced Drainage Systems during the 4th quarter worth about $74,000. GAMMA Investing LLC lifted its holdings in shares of Advanced Drainage Systems by 167.1% during the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock worth $88,000 after acquiring an additional 508 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of Advanced Drainage Systems by 1,298.6% during the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock valued at $118,000 after acquiring an additional 948 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Trading Up 0.2%

Shares of WMS opened at $116.01 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.68 and a beta of 1.25. The stock has a fifty day moving average price of $114.00 and a two-hundred day moving average price of $114.70. Advanced Drainage Systems, Inc. has a 52-week low of $93.92 and a 52-week high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its 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 15.50% and a return on equity of 32.33%. The business had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. During the same quarter last year, the business posted $1.23 earnings per share. The business's quarterly revenue was down 5.8% compared to the same quarter last year. Analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.62%. 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 is presently 12.50%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of 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. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price for the company. Robert W. Baird cut their target price 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 lowered their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, KeyCorp dropped their price objective on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One equities research 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.

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