Pinebridge Investments L.P. Purchases 3,441 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Pinebridge Investments L.P. lifted its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,540 shares of the construction company's stock after acquiring an additional 3,441 shares during the quarter. Pinebridge Investments L.P.'s holdings in Advanced Drainage Systems were worth $2,259,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Dark Forest Capital Management LP purchased a new stake in Advanced Drainage Systems during the 4th quarter valued at about $225,000. Tower Research Capital LLC TRC boosted its stake in shares of Advanced Drainage Systems by 45.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,463 shares of the construction company's stock valued at $400,000 after purchasing an additional 1,083 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Advanced Drainage Systems by 64.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 102,785 shares of the construction company's stock worth $11,882,000 after purchasing an additional 40,348 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Advanced Drainage Systems by 8.7% in the fourth quarter. MetLife Investment Management LLC now owns 40,936 shares of the construction company's stock worth $4,732,000 after buying an additional 3,274 shares during the period. Finally, Ostrum Asset Management boosted its position in Advanced Drainage Systems by 13.0% during the 4th quarter. Ostrum Asset Management now owns 5,106 shares of the construction company's stock valued at $590,000 after buying an additional 587 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Tuesday, April 1st. Loop Capital dropped their price objective on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price on the stock. Finally, UBS Group raised Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price target for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $153.78.

Advanced Drainage Systems Stock Up 2.3 %

Shares of WMS stock traded up $2.59 during mid-day trading on Friday, reaching $116.20. 499,772 shares of the company's stock traded hands, compared to its average volume of 578,357. The company's 50-day moving average price is $108.43 and its 200-day moving average price is $121.72. The company has a market cap of $9.01 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.13 and a beta of 1.48. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, equities analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems's payout ratio is 10.70%.

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.