Strs Ohio Grows Holdings in Advanced Drainage Systems, Inc. $WMS

Key Points

• Strs Ohio significantly increased its position in Advanced Drainage Systems, boosting its stake by 229.5% in the first quarter to 44,790 shares valued at about $6.14 million.
• Advanced Drainage Systems reported stronger-than-expected quarterly results, with EPS of $1.07 beating estimates and revenue of $676.76 million topping forecasts, while revenue rose 9.9% year over year.
• The company raised its quarterly dividend to $0.20 per share from $0.18, and analysts remain generally positive with a consensus rating of “Moderate Buy” and a price target of $185.75.

Strs Ohio lifted its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 229.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,790 shares of the construction company's stock after buying an additional 31,198 shares during the quarter. Strs Ohio owned approximately 0.06% of Advanced Drainage Systems worth $6,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock valued at $26,000 after acquiring an additional 176 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company's stock valued at $33,000 after purchasing an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Advanced Drainage Systems in the 3rd quarter valued at about $36,000. Kestra Advisory Services LLC bought a new position in shares of Advanced Drainage Systems during the fourth quarter worth about $37,000. Finally, Clearstead Advisors LLC lifted its position in shares of Advanced Drainage Systems by 150.8% during the fourth quarter. Clearstead Advisors LLC now owns 301 shares of the construction company's stock worth $44,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $152.24 on Monday. The company has a market cap of $11.67 billion, a P/E ratio of 27.99, a PEG ratio of 1.64 and a beta of 1.26. The business has a 50 day moving average of $141.85 and a two-hundred day moving average of $148.84. Advanced Drainage Systems, Inc. has a 52 week low of $109.63 and a 52 week high of $179.32. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The business had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. During the same quarter last year, the business posted $1.03 EPS. The business's revenue was up 9.9% on a year-over-year basis. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.20 per share. This is an increase from Advanced Drainage Systems's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems's payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

WMS has been the subject of several research analyst reports. Royal Bank Of Canada boosted their price objective on Advanced Drainage Systems from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. KeyCorp reiterated an "overweight" rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. UBS Group dropped their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Finally, Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They set a "buy" rating and a $175.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.75.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc NYSE: WMS is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company's product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.

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