Zurcher Kantonalbank Zurich Cantonalbank Buys 63,661 Shares of Advanced Drainage Systems, Inc. $WMS

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 87.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,270 shares of the construction company’s stock after purchasing an additional 63,661 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.18% of Advanced Drainage Systems worth $19,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. bought a new stake in Advanced Drainage Systems in the third quarter valued at $28,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Advanced Drainage Systems during the third quarter worth about $33,000. Cullen Frost Bankers Inc. increased its position in shares of Advanced Drainage Systems by 1,242.1% during the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock worth $35,000 after acquiring an additional 236 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Advanced Drainage Systems during the third quarter worth about $36,000. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Trading Up 0.2%

Shares of WMS stock opened at $153.65 on Thursday. Advanced Drainage Systems, Inc. has a 52-week low of $104.69 and a 52-week high of $179.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.08 and a current ratio of 4.12. The company has a 50-day simple moving average of $150.80 and a two-hundred day simple moving average of $149.76. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.61 and a beta of 1.37.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.19 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Advanced Drainage Systems’s dividend payout ratio is presently 11.98%.

Analyst Ratings Changes

Several research firms have recently commented on WMS. Oppenheimer reissued an “outperform” rating and set a $195.00 target price (down from $200.00) on shares of Advanced Drainage Systems in a research report on Friday, April 17th. Royal Bank Of Canada boosted their target price on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. UBS Group set a $215.00 target price on shares of Advanced Drainage Systems and gave the stock a “buy” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Monday. Finally, KeyCorp boosted their target price on shares of Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.29.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.