First Trust Advisors LP Raises Stake in Advanced Drainage Systems, Inc. $WMS

First Trust Advisors LP raised its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 10.9% during the third quarter, Holdings Channel reports. The fund owned 2,416,942 shares of the construction company’s stock after buying an additional 238,179 shares during the period. First Trust Advisors LP’s holdings in Advanced Drainage Systems were worth $335,230,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Impax Asset Management Group plc lifted its holdings in shares of Advanced Drainage Systems by 4.8% in the 2nd quarter. Impax Asset Management Group plc now owns 3,043,909 shares of the construction company’s stock worth $348,709,000 after acquiring an additional 139,495 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Advanced Drainage Systems by 6.5% during the 3rd quarter. American Century Companies Inc. now owns 1,472,176 shares of the construction company’s stock valued at $204,191,000 after purchasing an additional 90,106 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Advanced Drainage Systems by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,378 shares of the construction company’s stock worth $157,889,000 after purchasing an additional 16,118 shares during the period. KBC Group NV raised its position in Advanced Drainage Systems by 0.7% in the 2nd quarter. KBC Group NV now owns 880,373 shares of the construction company’s stock worth $101,120,000 after purchasing an additional 6,154 shares during the period. Finally, Norges Bank bought a new stake in Advanced Drainage Systems in the second quarter worth $90,989,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Down 1.9%

WMS opened at $146.22 on Friday. Advanced Drainage Systems, Inc. has a one year low of $93.92 and a one year high of $179.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08. The business has a 50 day simple moving average of $160.03 and a two-hundred day simple moving average of $149.75. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.76 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. During the same period last year, the company earned $1.09 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. Analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.18 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.72 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is 11.98%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WMS. Barclays upped their price target on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. KeyCorp increased their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Robert W. Baird set a $205.00 price target on Advanced Drainage Systems in a research report on Friday, February 6th. Finally, Oppenheimer lifted their price target on Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.00.

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.