Cullen Capital Management LLC Acquires New Shares in Advanced Drainage Systems, Inc. $WMS

Cullen Capital Management LLC bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,184 shares of the construction company’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. Allworth Financial LP bought a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after purchasing an additional 107 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Advanced Drainage Systems in the third quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC bought a new stake in Advanced Drainage Systems in the fourth quarter valued at approximately $37,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WMS. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. Oppenheimer lowered 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. Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 target price on the stock. National Bank Financial set a $190.00 price target on shares of Advanced Drainage Systems in a research note on Monday. Finally, KeyCorp reiterated 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 and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.56.

Advanced Drainage Systems Stock Down 2.4%

WMS stock opened at $140.35 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.12 and a quick ratio of 1.18. The stock has a market capitalization of $10.58 billion, a P/E ratio of 24.24, a P/E/G ratio of 1.57 and a beta of 1.27. The business has a 50-day moving average of $146.34 and a 200-day moving average of $147.14. Advanced Drainage Systems, Inc. has a fifty-two week low of $128.03 and a fifty-two week high of $179.32.

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

Advanced Drainage Systems Announces Dividend

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

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.