Novem Group Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Novem Group bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) during the 4th quarter, Holdings Channel.com reports. The firm bought 5,956 shares of the construction company’s stock, valued at approximately $689,000.

Several other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its position in Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after buying an additional 88 shares during the period. Spire Wealth Management bought a new position in shares of Advanced Drainage Systems during the fourth quarter valued at about $94,000. First Horizon Advisors Inc. boosted its holdings in shares of Advanced Drainage Systems by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after purchasing an additional 137 shares during the period. Blue Trust Inc. grew its stake in shares of Advanced Drainage Systems by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock worth $116,000 after purchasing an additional 108 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in Advanced Drainage Systems by 1,298.6% during the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company’s stock valued at $118,000 after purchasing an additional 948 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

WMS opened at $111.19 on Thursday. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. The stock has a fifty day simple moving average of $110.20 and a two-hundred day simple moving average of $118.82. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $181.03.

Advanced Drainage Systems (NYSE:WMS) 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 return on equity of 35.79% and a net margin of 15.90%. The business had revenue of $615.76 million during the quarter, compared to the consensus estimate of $653.22 million. During the same quarter in the previous year, the business earned $1.23 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. Research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.65%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, May 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 12.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WMS shares. Robert W. Baird dropped their price objective on Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Stephens restated an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. Oppenheimer cut their price target on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price objective on the stock. Finally, Barclays raised their target price on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

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.