Empowered Funds LLC Buys New Holdings in Advanced Drainage Systems, Inc. $WMS

Empowered Funds LLC bought a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,520 shares of the construction company’s stock, valued at approximately $1,023,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC increased its holdings in shares of Advanced Drainage Systems by 406.0% in the fourth quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company’s stock valued at $3,954,000 after purchasing an additional 21,906 shares in the last quarter. Pier Capital LLC raised its holdings in Advanced Drainage Systems by 69,891.7% during the fourth quarter. Pier Capital LLC now owns 50,394 shares of the construction company’s stock worth $7,299,000 after acquiring an additional 50,322 shares in the last quarter. BlackRock Inc. bought a new position in shares of Advanced Drainage Systems in the 2nd quarter valued at about $1,172,482,000. Pictet Asset Management Holding SA increased its holdings in shares of Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after acquiring an additional 546,298 shares during the last quarter. Finally, Mirabaud Asset Management Ltd acquired a new stake in Advanced Drainage Systems during the fourth quarter worth approximately $3,283,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. National Bank Financial set a $190.00 price target on Advanced Drainage Systems in a research note on Monday, August 24th. Jefferies Financial Group began coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Finally, Robert W. Baird set a $206.00 target price on Advanced Drainage Systems in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.70.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock opened at $135.66 on Friday. The stock’s 50 day moving average is $144.58 and its 200 day moving average is $145.15. Advanced Drainage Systems, Inc. has a one year low of $128.03 and a one year high of $179.32. 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 firm has a market cap of $10.23 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.47 and a beta of 1.28.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, research analysts expect that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is presently 13.82%.

Advanced Drainage Systems Profile

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.