Lansforsakringar Fondforvaltning AB publ Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 31,493 shares of the construction company’s stock, valued at approximately $3,641,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Spire Wealth Management acquired a new position in Advanced Drainage Systems during the 4th quarter valued at about $94,000. First Horizon Advisors Inc. boosted its stake in Advanced Drainage Systems by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock valued at $102,000 after purchasing an additional 137 shares during the period. Blue Trust Inc. boosted its stake in Advanced Drainage Systems by 12.0% during the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock valued at $116,000 after purchasing an additional 108 shares during the period. Headlands Technologies LLC boosted its stake 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. Finally, State of Wyoming boosted its stake in Advanced Drainage Systems by 574.6% during the 4th quarter. State of Wyoming now owns 1,302 shares of the construction company’s stock valued at $151,000 after purchasing an additional 1,109 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 3.2%

WMS stock opened at $111.70 on Friday. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $179.57. The firm has a market cap of $8.67 billion, a PE ratio of 18.68, a P/E/G ratio of 1.13 and a beta of 1.31. The firm has a 50 day simple moving average of $110.24 and a 200 day simple moving average of $117.17. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. The business had revenue of $615.76 million for the quarter, compared to analyst estimates of $653.22 million. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently declared 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. The ex-dividend date is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. Advanced Drainage Systems’s payout ratio is currently 12.50%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WMS shares. Oppenheimer dropped 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 research report on Friday, May 16th. Wall Street Zen downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started 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 target on the stock. Barclays boosted their price target 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. Finally, UBS Group dropped their price target on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average target price of $139.88.

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.