Assenagon Asset Management S.A. Purchases Shares of 9,032 Advanced Drainage Systems, Inc. $WMS

Assenagon Asset Management S.A. purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) in the 1st quarter, HoldingsChannel reports. The fund purchased 9,032 shares of the construction company’s stock, valued at approximately $1,239,000.

A number of other large investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing 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 approximately $36,000. Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter worth approximately $37,000. Los Angeles Capital Management LLC acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at approximately $42,000. Finally, Clearstead Advisors LLC raised its holdings in Advanced Drainage Systems by 150.8% in the fourth quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 3.8%

WMS stock opened at $150.96 on Thursday. The stock has a market cap of $11.57 billion, a P/E ratio of 27.75, a PEG ratio of 1.69 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. Advanced Drainage Systems, Inc. has a twelve month low of $109.63 and a twelve month high of $179.32. The company’s 50 day moving average is $141.90 and its two-hundred day moving average is $148.80.

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

Advanced Drainage Systems Increases Dividend

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

Analysts Set New Price Targets

Several research firms have commented on WMS. Zacks Research cut shares of Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 17th. Barclays reduced their price objective on shares of Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Oppenheimer decreased their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Monday, April 20th. Finally, 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 research note on Monday, June 8th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.75.

Advanced Drainage Systems Company 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.