Victory Capital Management Inc. Has $2.03 Million Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Key Points

• Victory Capital Management Inc. reduced its holdings in Advanced Drainage Systems by 31.2%, owning 18,721 shares valued at $2.03 million.
• Advanced Drainage Systems reported an EPS of $1.03 for the quarter, missing estimates and showing a 5.8% year-over-year revenue decline.
• The company recently increased its quarterly dividend to $0.18, representing a dividend yield of 0.61%.

Victory Capital Management Inc. decreased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 31.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,721 shares of the construction company's stock after selling 8,490 shares during the period. Victory Capital Management Inc.'s holdings in Advanced Drainage Systems were worth $2,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. Raymond James Financial Inc. bought a new position in Advanced Drainage Systems during the fourth quarter worth about $2,025,000. LPL Financial LLC increased its holdings in shares of Advanced Drainage Systems by 5.8% during the fourth quarter. LPL Financial LLC now owns 17,801 shares of the construction company's stock worth $2,058,000 after buying an additional 980 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Advanced Drainage Systems by 9.1% during the fourth quarter. JPMorgan Chase & Co. now owns 273,248 shares of the construction company's stock worth $31,587,000 after buying an additional 22,798 shares in the last quarter. Norges Bank acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth approximately $86,185,000. Finally, Schroder Investment Management Group increased its holdings in shares of Advanced Drainage Systems by 27.4% in the fourth quarter. Schroder Investment Management Group now owns 401,012 shares of the construction company's stock valued at $46,048,000 after purchasing an additional 86,141 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price target for the company. KeyCorp lowered 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 report on Tuesday, April 8th. Oppenheimer lowered 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 dropped their target price on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, UBS Group dropped their target price on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and an average price target of $139.88.

Advanced Drainage Systems Stock Down 1.6%

WMS stock traded down $1.93 during midday trading on Wednesday, hitting $116.98. The company's stock had a trading volume of 575,801 shares, compared to its average volume of 683,750. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.10. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $179.57. The company's fifty day moving average price is $114.97 and its 200 day moving average price is $114.57. The stock has a market capitalization of $9.08 billion, a P/E ratio of 20.31, a PEG 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, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS 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 0.62%. The ex-dividend date of this dividend was Friday, May 30th. Advanced Drainage Systems's payout ratio is presently 12.50%.

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.