Wellington Management Group LLP Decreases Stock Holdings in Advanced Drainage Systems, Inc. $WMS

Wellington Management Group LLP reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 840,488 shares of the construction company’s stock after selling 222,743 shares during the period. Wellington Management Group LLP owned 1.11% of Advanced Drainage Systems worth $131,923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP purchased a new stake in Advanced Drainage Systems during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. lifted its stake in Advanced Drainage Systems by 352.0% in 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 in the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advanced Drainage Systems in the third quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $37,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Down 0.7%

WMS stock opened at $135.97 on Tuesday. The firm has a market cap of $10.25 billion, a PE ratio of 23.48, a PEG ratio of 1.50 and a beta of 1.27. Advanced Drainage Systems, Inc. has a one year low of $128.03 and a one year high of $179.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The firm’s 50 day moving average price is $145.88 and its 200-day moving average price is $146.01.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $991.39 million. During the same quarter last year, the firm earned $1.95 earnings per share. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems’s payout ratio is 13.82%.

Analysts Set New Price Targets

Several research firms recently commented on WMS. Oppenheimer cut their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. Barclays upped their target price on Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Jefferies Financial Group began coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price for the company. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. Finally, Robert W. Baird set a $206.00 price objective on shares of Advanced Drainage Systems in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $188.70.

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.