Algert Global LLC Cuts Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Algert Global LLC lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 40.8% during the third quarter, Holdings Channel.com reports. The fund owned 35,785 shares of the construction company’s stock after selling 24,659 shares during the quarter. Algert Global LLC’s holdings in Advanced Drainage Systems were worth $5,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in Advanced Drainage Systems by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,610 shares of the construction company’s stock valued at $450,000 after purchasing an additional 361 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Advanced Drainage Systems by 117.5% during the 1st quarter. Lazard Asset Management LLC now owns 12,032 shares of the construction company’s stock valued at $2,071,000 after buying an additional 6,500 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Advanced Drainage Systems during the 1st quarter valued at about $525,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Advanced Drainage Systems by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after buying an additional 19,626 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Advanced Drainage Systems during the 1st quarter valued at about $861,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Up 2.7 %

Advanced Drainage Systems stock opened at $131.85 on Friday. The firm’s 50-day moving average is $148.95 and its 200-day moving average is $157.56. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. Advanced Drainage Systems, Inc. has a 1 year low of $117.97 and a 1 year high of $184.27. The company has a market cap of $10.22 billion, a P/E ratio of 21.00, a PEG ratio of 1.19 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same quarter in the previous year, the business posted $1.71 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.19%.

Analyst Ratings Changes

A number of research firms have recently commented on WMS. Stephens reissued an “equal weight” rating and set a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. KeyCorp decreased their target price on shares of 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. Robert W. Baird decreased their target price on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Oppenheimer decreased their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Barclays decreased their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Company 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.