Pictet Asset Management Holding SA Raises Stake in Advanced Drainage Systems, Inc. $WMS

Pictet Asset Management Holding SA lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 32.9% during the first quarter, Holdings Channel reports. The institutional investor owned 2,204,801 shares of the construction company’s stock after purchasing an additional 546,298 shares during the period. Pictet Asset Management Holding SA’s holdings in Advanced Drainage Systems were worth $302,290,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in 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 valued at $26,000 after acquiring an additional 176 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advanced Drainage Systems during the third quarter worth about $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter worth about $37,000. Los Angeles Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter worth about $42,000. Finally, Clearstead Advisors LLC raised its stake in Advanced Drainage Systems by 150.8% during the 4th quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

WMS has been the topic of a number of research analyst reports. UBS Group lowered their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. KeyCorp reiterated an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Royal Bank Of Canada boosted their target price on shares of Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They set a “buy” rating and a $175.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $154.77 on Friday. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. The business has a 50 day simple moving average of $141.73 and a 200-day simple moving average of $148.68. Advanced Drainage Systems, Inc. has a 1 year low of $109.63 and a 1 year high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The firm had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is presently 14.71%.

Advanced Drainage Systems Profile

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.