AEGON ASSET MANAGEMENT UK Plc Reduces Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,677 shares of the construction company’s stock after selling 5,859 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Advanced Drainage Systems were worth $22,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WMS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Advanced Drainage Systems by 63.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company’s stock valued at $238,659,000 after acquiring an additional 799,569 shares during the last quarter. Norges Bank bought a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $86,185,000. Impax Asset Management Group plc increased its stake in Advanced Drainage Systems by 34.6% in the 4th quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company’s stock worth $291,723,000 after buying an additional 650,052 shares during the period. First Trust Advisors LP lifted its holdings in Advanced Drainage Systems by 45.8% during the 4th quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company’s stock valued at $200,315,000 after buying an additional 544,109 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at about $46,997,000. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $107.07 on Tuesday. The firm has a 50 day moving average of $110.11 and a 200 day moving average of $116.65. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems, Inc. has a 52 week low of $93.92 and a 52 week high of $179.57.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly 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 return on equity of 35.79% and a net margin of 15.90%. The company had revenue of $615.76 million during the quarter, compared to the consensus estimate of $653.22 million. During the same period in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. On average, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.67%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 30th. Advanced Drainage Systems’s dividend payout ratio is presently 12.50%.

Analysts Set New Price Targets

A number of brokerages have commented on WMS. Wall Street Zen downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Oppenheimer lowered their price target on Advanced Drainage Systems from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price objective on the stock. UBS Group decreased their target price on 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. Finally, KeyCorp dropped their price target on Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.