TD Asset Management Inc Sells 43,176 Shares of Advanced Drainage Systems, Inc. $WMS

TD Asset Management Inc lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,488 shares of the construction company’s stock after selling 43,176 shares during the period. TD Asset Management Inc’s holdings in Advanced Drainage Systems were worth $52,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Advanced Drainage Systems by 3.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 462,659 shares of the construction company’s stock valued at $67,007,000 after buying an additional 15,535 shares in the last quarter. Bridges Investment Management Inc. increased its holdings in shares of Advanced Drainage Systems by 5.2% in the 4th quarter. Bridges Investment Management Inc. now owns 29,581 shares of the construction company’s stock worth $4,284,000 after purchasing an additional 1,459 shares in the last quarter. One Capital Management LLC increased its holdings in shares of Advanced Drainage Systems by 43.3% in the 4th quarter. One Capital Management LLC now owns 21,502 shares of the construction company’s stock worth $3,114,000 after purchasing an additional 6,494 shares in the last quarter. Norges Bank bought a new stake in shares of Advanced Drainage Systems in the 4th quarter worth $156,587,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Advanced Drainage Systems in the 4th quarter worth $83,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

WMS has been the subject of a number of research analyst reports. Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a report on Friday, February 6th. KeyCorp reduced their target price on Advanced Drainage Systems from $198.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $168.00 target price on shares of Advanced Drainage Systems in a report on Friday, May 22nd. Oppenheimer reduced their target price 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. Finally, UBS Group reduced their target price on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $187.00.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $129.93 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. Advanced Drainage Systems, Inc. has a one year low of $109.63 and a one year high of $179.32. The firm has a market capitalization of $9.96 billion, a P/E ratio of 23.88, a PEG ratio of 1.41 and a beta of 1.29. The business has a fifty day moving average of $141.90 and a 200 day moving average of $149.46.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, topping 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 company had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. Advanced Drainage Systems’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.6%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 14.71%.

About Advanced Drainage Systems

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.