Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Advanced Drainage Systems by 61%, selling 13,943 shares, leaving it with a total of 8,919 shares valued at approximately $969,000.
• Advanced Drainage Systems reported earnings per share of $1.03 for the most recent quarter, missing analysts' expectations, with a revenue of $615.76 million, which is down 5.8% year-over-year.
• The company has announced an increase in its quarterly dividend from $0.16 to $0.18, representing an annual yield of 0.61% and a payout ratio of 12.50%.

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 61.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,919 shares of the construction company's stock after selling 13,943 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Advanced Drainage Systems were worth $969,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Impax Asset Management Group plc raised its stake in Advanced Drainage Systems by 14.8% during the 1st quarter. Impax Asset Management Group plc now owns 2,904,414 shares of the construction company's stock valued at $314,700,000 after purchasing an additional 374,414 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Advanced Drainage Systems by 63.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company's stock worth $238,659,000 after purchasing an additional 799,569 shares in the last quarter. First Trust Advisors LP lifted its position in Advanced Drainage Systems by 45.8% in the 4th quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock valued at $200,315,000 after acquiring an additional 544,109 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Advanced Drainage Systems by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,192,746 shares of the construction company's stock valued at $137,924,000 after acquiring an additional 5,868 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Advanced Drainage Systems by 18.3% in the 1st quarter. KBC Group NV now owns 874,219 shares of the construction company's stock valued at $94,984,000 after purchasing an additional 135,470 shares during the period. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Trading Down 1.6%

Shares of NYSE WMS traded down $1.93 during mid-day trading on Wednesday, reaching $116.98. The company had a trading volume of 575,801 shares, compared to its average volume of 589,558. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $179.57. The business's 50-day moving average is $115.09 and its 200-day moving average is $114.58. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). The business had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. Advanced Drainage Systems's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 EPS. Equities analysts expect 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. Shareholders of record on Friday, May 30th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.62%. The ex-dividend date was Friday, May 30th. This is a boost from Advanced Drainage Systems's previous quarterly dividend of $0.16. Advanced Drainage Systems's payout ratio is 12.50%.

Analyst Upgrades and Downgrades

WMS has been the subject of a number of recent analyst reports. Oppenheimer cut 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 report on Friday, May 16th. Loop Capital lowered their price target on shares of 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. KeyCorp cut their price target on shares of 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. Wall Street Zen lowered shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Barclays increased their price objective on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued 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.