Raymond James Financial Inc. Purchases 22,737 Shares of Advanced Drainage Systems, Inc. $WMS

Key Points

• Raymond James Financial Inc. significantly increased its stake in Advanced Drainage Systems, Inc. by 129.8% during Q1, owning 40,257 shares worth approximately $4.37 million.
• The company reported a quarterly EPS of $1.95, surpassing estimates, with a revenue of $829.88 million, reflecting a year-over-year increase.
• Advanced Drainage Systems announced a quarterly dividend of $0.18 per share, with a payout ratio of 13%, scheduled for payment on September 15th.

Raymond James Financial Inc. raised its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 129.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,257 shares of the construction company's stock after purchasing an additional 22,737 shares during the quarter. Raymond James Financial Inc. owned 0.05% of Advanced Drainage Systems worth $4,374,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings 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 acquiring an additional 115 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Advanced Drainage Systems by 97.6% in the 1st quarter. Teacher Retirement System of Texas now owns 10,769 shares of the construction company's stock valued at $1,170,000 after acquiring an additional 5,319 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Advanced Drainage Systems by 15.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,914 shares of the construction company's stock valued at $2,061,000 after acquiring an additional 2,559 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Advanced Drainage Systems by 167.1% in the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company's stock valued at $88,000 after acquiring an additional 508 shares in the last quarter. Finally, Vident Advisory LLC grew its holdings in shares of Advanced Drainage Systems by 23.0% in 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 in the last quarter. Institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised their price objective on Advanced Drainage Systems from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, August 8th. UBS Group restated a "buy" rating and issued a $167.00 price objective (up previously from $146.00) on shares of Advanced Drainage Systems in a report on Friday, August 8th. Loop Capital decreased their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a report on Friday, May 16th. Royal Bank Of Canada began coverage on Advanced Drainage Systems in a report on Monday, August 11th. They issued an "outperform" rating and a $159.00 price objective for the company. Finally, KeyCorp lifted their price target on Advanced Drainage Systems from $140.00 to $159.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.56.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock traded up $6.14 during midday trading on Thursday, reaching $147.14. 895,947 shares of the company's stock were exchanged, compared to its average volume of 853,183. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $166.03. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.25 and a current ratio of 3.22. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.87 and a beta of 1.26. The stock's 50-day simple moving average is $129.59 and its 200 day simple moving average is $117.82.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.17. Advanced Drainage Systems had a return on equity of 29.57% and a net margin of 14.82%.The company had revenue of $829.88 million during the quarter, compared to analysts' expectations of $800.54 million. During the same quarter in the previous year, the company posted $2.06 earnings per share. The business's revenue was up 1.8% on a year-over-year basis. Advanced Drainage Systems has set its FY 2026 guidance at EPS. On average, analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 29th. Advanced Drainage Systems's payout ratio is currently 13.00%.

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.