Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Bought by abrdn plc

abrdn plc raised its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 28.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 579,485 shares of the construction company’s stock after acquiring an additional 128,539 shares during the quarter. abrdn plc’s holdings in Advanced Drainage Systems were worth $91,683,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares in the last quarter. West Oak Capital LLC boosted its stake in shares of Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. increased its position in shares of Advanced Drainage Systems by 1,472.7% during the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after purchasing an additional 162 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Advanced Drainage Systems during the second quarter worth approximately $45,000. Finally, Tobam acquired a new position in Advanced Drainage Systems in the 1st quarter valued at $56,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $192.00 target price on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Robert W. Baird dropped their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Barclays reduced their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Loop Capital lowered their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $151.63 on Wednesday. Advanced Drainage Systems, Inc. has a 52 week low of $104.16 and a 52 week high of $184.27. The stock’s fifty day moving average is $152.64 and its two-hundred day moving average is $160.12. The company has a market capitalization of $11.75 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.27 and a beta of 1.53. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The firm had revenue of $815.34 million during the quarter, compared to the consensus estimate of $828.00 million. Equities analysts expect that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 0.42%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.13%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.