Quest Partners LLC Grows Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Quest Partners LLC grew its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 334.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,314 shares of the construction company’s stock after acquiring an additional 9,477 shares during the quarter. Quest Partners LLC’s holdings in Advanced Drainage Systems were worth $1,975,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after buying an additional 395,099 shares during the last quarter. Boston Partners grew its stake in Advanced Drainage Systems by 16.9% during the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock worth $261,609,000 after buying an additional 219,629 shares during the last quarter. Swedbank AB grew its stake in Advanced Drainage Systems by 2.1% during the 2nd quarter. Swedbank AB now owns 1,308,821 shares of the construction company’s stock worth $209,922,000 after buying an additional 26,581 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Advanced Drainage Systems by 0.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,162,388 shares of the construction company’s stock worth $200,210,000 after buying an additional 4,100 shares during the last quarter. Finally, KBC Group NV grew its stake in Advanced Drainage Systems by 78.5% during the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock worth $92,750,000 after buying an additional 289,925 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WMS. Stephens raised their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Loop Capital lowered their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Barclays lowered their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird lowered their target price on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Stock Down 0.4 %

WMS opened at $140.08 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The business has a 50 day simple moving average of $158.00 and a 200-day simple moving average of $163.77. The stock has a market capitalization of $10.86 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.15 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 12 month low of $102.32 and a 12 month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.98 by $0.08. The business had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. On average, equities analysts anticipate that Advanced Drainage Systems, Inc. will post 7.18 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 0.46%. Advanced Drainage Systems’s dividend payout ratio is presently 9.94%.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.