UBS Group AG Trims Position in Advanced Drainage Systems, Inc. $WMS

Key Points

• UBS Group AG cut its stake in Advanced Drainage Systems by 32.6% in the fourth quarter, selling 115,321 shares and ending with 238,593 shares worth about $34.6 million.
• Advanced Drainage Systems reported better-than-expected quarterly results, posting earnings of $1.27 per share versus the $1.11 estimate, with revenue of $693.35 million slightly above forecasts.
• Wall Street remains broadly positive on WMS, with seven Buy ratings and one Hold; the consensus price target is $190.29, even as some firms trimmed their targets.

UBS Group AG lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 32.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,593 shares of the construction company's stock after selling 115,321 shares during the quarter. UBS Group AG owned about 0.31% of Advanced Drainage Systems worth $34,555,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WMS. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company's stock worth $26,000 after purchasing an additional 176 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Advanced Drainage Systems during the third quarter worth about $33,000. Cullen Frost Bankers Inc. grew its holdings in shares of Advanced Drainage Systems by 1,242.1% during the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company's stock worth $35,000 after purchasing an additional 236 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Advanced Drainage Systems during the third quarter worth about $36,000. Finally, Danske Bank A S purchased a new position in shares of Advanced Drainage Systems during the third quarter worth about $55,000. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Down 0.6%

Shares of WMS opened at $143.26 on Friday. The firm has a market cap of $11.16 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.51 and a beta of 1.33. The stock has a 50 day simple moving average of $146.94 and a two-hundred day simple moving average of $150.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08. Advanced Drainage Systems, Inc. has a 1 year low of $104.69 and a 1 year high of $179.32.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business's revenue was up .4% on a year-over-year basis. On average, analysts forecast that Advanced Drainage Systems, Inc. will post 6.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WMS shares. Barclays cut their price objective on Advanced Drainage Systems from $198.00 to $181.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. Robert W. Baird set a $205.00 price objective on Advanced Drainage Systems in a report on Friday, February 6th. KeyCorp upped their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada upped their target price on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.29.

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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