Stratos Investment Management LLC Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Stratos Investment Management LLC purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,414 shares of the construction company's stock, valued at approximately $480,000.

Several other hedge funds have also recently added to or reduced their stakes in WMS. Steward Partners Investment Advisory LLC raised its position in Advanced Drainage Systems by 59.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,203 shares of the construction company's stock worth $255,000 after purchasing an additional 818 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Advanced Drainage Systems by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company's stock valued at $68,616,000 after purchasing an additional 31,510 shares during the last quarter. M&T Bank Corp grew its stake in shares of Advanced Drainage Systems by 52.6% during the fourth quarter. M&T Bank Corp now owns 12,000 shares of the construction company's stock valued at $1,387,000 after purchasing an additional 4,137 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $1,981,000. Finally, Arizona State Retirement System grew its stake in shares of Advanced Drainage Systems by 6.4% during the fourth quarter. Arizona State Retirement System now owns 21,373 shares of the construction company's stock valued at $2,471,000 after purchasing an additional 1,286 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Oppenheimer reduced their price objective on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Loop Capital reduced their price objective on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price objective on the stock. KeyCorp cut their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays increased their target price on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $139.88.

Advanced Drainage Systems Stock Down 1.5%

Shares of NYSE:WMS traded down $1.82 during midday trading on Friday, reaching $120.37. 460,011 shares of the company were exchanged, compared to its average volume of 629,937. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $179.57. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $115.59 and a two-hundred day simple moving average of $114.54. The firm has a market cap of $9.35 billion, a PE ratio of 20.90, a P/E/G ratio of 1.73 and a beta of 1.24.

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 (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the firm posted $1.23 earnings per share. The firm's quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.18 dividend. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, May 30th. Advanced Drainage Systems's payout ratio is presently 12.50%.

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.