Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 546,216 shares of the construction company’s stock after purchasing an additional 18,023 shares during the quarter. Allianz Asset Management GmbH owned 0.70% of Advanced Drainage Systems worth $63,143,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in WMS. State Street Corp raised its holdings in shares of Advanced Drainage Systems by 8.8% in the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock worth $399,452,000 after acquiring an additional 206,105 shares during the last quarter. Fernbridge Capital Management LP raised its holdings in shares of Advanced Drainage Systems by 108.2% in the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company’s stock worth $39,848,000 after acquiring an additional 131,781 shares during the last quarter. KBC Group NV raised its holdings in shares of Advanced Drainage Systems by 21.2% in the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock worth $85,399,000 after acquiring an additional 129,252 shares during the last quarter. abrdn plc raised its holdings in shares of Advanced Drainage Systems by 28.5% in the third quarter. abrdn plc now owns 579,485 shares of the construction company’s stock worth $91,683,000 after acquiring an additional 128,539 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Advanced Drainage Systems by 5.8% in the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after acquiring an additional 75,455 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $114.50 on Friday. The firm has a market capitalization of $8.88 billion, a PE ratio of 19.15, a P/E/G ratio of 1.13 and a beta of 1.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. The business has a 50-day moving average of $120.01 and a two-hundred day moving average of $137.09. Advanced Drainage Systems, Inc. has a 12 month low of $110.75 and a 12 month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. As a group, research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.16 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.56%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.70%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Loop Capital cut their price target on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, February 7th. Stephens reiterated an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Barclays dropped their target price on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. KeyCorp dropped their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $164.25.

Advanced Drainage Systems Profile

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.