Hsbc Holdings PLC Acquires 14,137 Shares of Advanced Drainage Systems, Inc. $WMS

Hsbc Holdings PLC lifted its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 61.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 37,093 shares of the construction company’s stock after purchasing an additional 14,137 shares during the quarter. Hsbc Holdings PLC’s holdings in Advanced Drainage Systems were worth $5,053,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WMS. Norges Bank bought a new stake in shares of Advanced Drainage Systems during the 4th quarter valued at $156,587,000. Wellington Management Group LLP increased its position in shares of Advanced Drainage Systems by 234.0% in the third quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after purchasing an additional 832,929 shares during the period. Amundi raised its stake in Advanced Drainage Systems by 80.9% in the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after purchasing an additional 572,193 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Advanced Drainage Systems by 32.9% in the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after purchasing an additional 546,298 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Advanced Drainage Systems by 875.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 458,910 shares of the construction company’s stock worth $66,464,000 after purchasing an additional 411,883 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WMS shares. UBS Group reduced their price target on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Barclays upped their target price on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $187.00.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $140.66 on Friday. The business has a 50 day moving average of $142.16 and a 200-day moving average of $148.77. The company has a market capitalization of $10.78 billion, a P/E ratio of 25.86, a P/E/G ratio of 1.53 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 1 year low of $110.85 and a 1 year high of $179.32. 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 (NYSE:WMS) last posted its earnings results 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 net margin of 13.98% and a return on equity of 26.63%. The business had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. During the same period last year, the company earned $1.03 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

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