4,075 Advanced Drainage Systems, Inc. $WMS Shares Bought by M&G PLC

M&G PLC raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 64.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,420 shares of the construction company’s stock after purchasing an additional 4,075 shares during the quarter. M&G PLC’s holdings in Advanced Drainage Systems were worth $1,323,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WMS. Allworth Financial LP acquired a new stake in shares of Advanced Drainage Systems during the 2nd quarter worth $26,000. Avalon Trust Co acquired a new position in Advanced Drainage Systems in the second quarter valued at $42,000. Vega Investment Solutions acquired a new position in Advanced Drainage Systems in the second quarter valued at $50,000. Heritage Family Offices LLP purchased a new stake in Advanced Drainage Systems during the third quarter valued at about $53,000. Finally, Bessemer Group Inc. grew its position in Advanced Drainage Systems by 70.3% during the first quarter. Bessemer Group Inc. now owns 395 shares of the construction company’s stock valued at $54,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the subject of several research analyst reports. UBS Group upped their price target on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Barclays reduced their price objective on Advanced Drainage Systems from $191.00 to $183.00 and set an “overweight” rating on the stock in a research note on Friday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Thursday, October 15th. Royal Bank Of Canada dropped their target price on shares of Advanced Drainage Systems from $170.00 to $163.00 and set an “outperform” rating for the company in a research report on Friday, November 6th. Finally, Zacks Research upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.40.

Advanced Drainage Systems Trading Up 0.6%

NYSE:WMS opened at $129.53 on Thursday. The business’s 50-day moving average is $129.74 and its two-hundred day moving average is $142.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.13 and a quick ratio of 1.12. Advanced Drainage Systems, Inc. has a 12 month low of $119.53 and a 12 month high of $179.32. The firm has a market capitalization of $9.56 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, November 5th. The construction company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. The company had revenue of $889.41 million during the quarter, compared to the consensus estimate of $921.79 million. Advanced Drainage Systems had a return on equity of 27.88% and a net margin of 12.44%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.97 earnings per share. Research analysts predict that Advanced Drainage Systems, Inc. will post 6.44 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 15.21%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc. (NYSE: WMS) manufactures water-management products for infrastructure, construction, agriculture and residential markets. Its offerings include thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater. The company also provides stormwater storage, treatment and infiltration systems, as well as products for onsite wastewater and septic systems through its Infiltrator Water Technologies business. Its portfolio includes solutions for projects ranging from roadways and commercial developments to residential wastewater applications.