Madison Asset Management LLC Lowers Position in Advanced Drainage Systems, Inc. $WMS

Madison Asset Management LLC trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 16.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,424 shares of the construction company’s stock after selling 3,868 shares during the quarter. Madison Asset Management LLC’s holdings in Advanced Drainage Systems were worth $2,664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WMS. HighTower Advisors LLC raised its stake in shares of Advanced Drainage Systems by 406.0% in the 4th quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company’s stock valued at $3,954,000 after acquiring an additional 21,906 shares during the period. Pier Capital LLC lifted its holdings in shares of Advanced Drainage Systems by 69,891.7% in the 4th quarter. Pier Capital LLC now owns 50,394 shares of the construction company’s stock worth $7,299,000 after acquiring an additional 50,322 shares during the last quarter. J. Safra Sarasin Holding AG boosted its position in shares of Advanced Drainage Systems by 22.5% during the 4th quarter. J. Safra Sarasin Holding AG now owns 166,469 shares of the construction company’s stock worth $24,110,000 after purchasing an additional 30,557 shares during the period. Elevatus Welath Management purchased a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $2,600,000. Finally, Mirabaud Asset Management Ltd purchased a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $3,283,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Friday. UBS Group decreased their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Finally, Oppenheimer cut their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $187.00.

Advanced Drainage Systems Trading Down 2.8%

NYSE WMS opened at $139.03 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.54 and a beta of 1.26. The firm has a 50 day simple moving average of $142.07 and a 200-day simple moving average of $148.85. Advanced Drainage Systems, Inc. has a one year low of $110.85 and a one year high of $179.32.

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

Advanced Drainage Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. 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.