UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 103,500 Shares of Advanced Drainage Systems, Inc. $WMS

Key Points

• UBS Asset Management reduced its Advanced Drainage Systems stake by 4.2%, selling 103,500 shares and retaining 2.35 million shares valued at approximately $368.3 million. Institutional investors and hedge funds collectively own 89.83% of the company.
• Advanced Drainage Systems reported strong quarterly results, with EPS of $2.49 versus the $2.10 consensus and revenue of $1 billion, up 20.6% year over year. Analysts expect full-year EPS of $6.62.
• The company declared a quarterly dividend of $0.20, equal to an annualized $0.80 and a 0.6% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $188.70, compared with the reported share price of $137.11.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,346,623 shares of the construction company's stock after selling 103,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 3.11% of Advanced Drainage Systems worth $368,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Advanced Drainage Systems during the second quarter worth about $1,172,482,000. State Street Corp boosted its position in shares of Advanced Drainage Systems by 3.1% during the third quarter. State Street Corp now owns 2,551,901 shares of the construction company's stock worth $353,949,000 after buying an additional 75,777 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company's stock worth $302,290,000 after acquiring an additional 546,298 shares in the last quarter. Amundi grew its position in Advanced Drainage Systems by 0.7% in the first quarter. Amundi now owns 1,288,672 shares of the construction company's stock valued at $176,734,000 after purchasing an additional 9,096 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Advanced Drainage Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company's stock valued at $184,184,000 after acquiring an additional 15,069 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $137.11 on Monday. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.50 and a beta of 1.27. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems, Inc. has a 12 month low of $128.03 and a 12 month high of $179.32. The stock's 50 day moving average is $145.99 and its 200-day moving average is $146.29.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $991.39 million. During the same period last year, the firm posted $1.95 EPS. The firm's revenue for the quarter was up 20.6% compared to the same quarter last year. Equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Advanced Drainage Systems's payout ratio is presently 13.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WMS. KeyCorp reaffirmed an "overweight" rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Robert W. Baird set a $206.00 price objective on Advanced Drainage Systems in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. Oppenheimer dropped their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group assumed coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They set a "buy" rating and a $175.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.70.

Advanced Drainage Systems Profile

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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