Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,867 shares of the construction company’s stock after purchasing an additional 206 shares during the quarter. Fifth Third Bancorp owned about 0.06% of Advanced Drainage Systems worth $5,418,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of Advanced Drainage Systems during the first quarter worth $26,000. Mascagni Wealth Management Inc. acquired a new position in Advanced Drainage Systems in the fourth quarter valued at $74,000. GAMMA Investing LLC lifted its position in Advanced Drainage Systems by 167.1% during the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company’s stock worth $88,000 after acquiring an additional 508 shares in the last quarter. First Horizon Advisors Inc. lifted its position 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 worth $102,000 after acquiring an additional 137 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position 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 worth $118,000 after acquiring an additional 948 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Down 2.2%

Advanced Drainage Systems stock opened at $113.05 on Friday. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $179.57. 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 business has a 50 day moving average price of $111.85 and a two-hundred day moving average price of $115.86. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.13 and a beta of 1.25.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 business earned $1.23 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.64%. 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 (DPR) is presently 12.50%.

Wall Street Analysts Forecast Growth

WMS has been the subject of a number of analyst reports. KeyCorp reduced their price objective on Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. UBS Group cut their target price on 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. Loop Capital dropped their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft started coverage on 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. Finally, Oppenheimer dropped their price target on 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. One research 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’s stock. Based on data from MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus price target 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.