Norges Bank Buys New Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Norges Bank bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 745,547 shares of the construction company's stock, valued at approximately $86,185,000. Norges Bank owned approximately 0.96% of Advanced Drainage Systems at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WMS. State Street Corp grew its position in Advanced Drainage Systems by 8.8% during the 3rd quarter. State Street Corp now owns 2,541,688 shares of the construction company's stock worth $399,452,000 after purchasing an additional 206,105 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Advanced Drainage Systems by 50.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company's stock valued at $11,186,000 after buying an additional 32,418 shares in the last quarter. Zacks Investment Management acquired a new position in Advanced Drainage Systems during the third quarter valued at $2,694,000. KBC Group NV raised its position in Advanced Drainage Systems by 21.2% during the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company's stock valued at $85,399,000 after buying an additional 129,252 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Advanced Drainage Systems by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company's stock worth $186,578,000 after acquiring an additional 59,158 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company's stock.

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Analyst Ratings Changes

WMS has been the topic of a number of research reports. StockNews.com downgraded Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Tuesday, April 1st. Stephens reiterated an "equal weight" rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price for the company. Barclays cut their price objective on Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Finally, UBS Group upgraded Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Advanced Drainage Systems currently has an average rating of "Moderate Buy" and an average price target of $160.89.

Advanced Drainage Systems Stock Down 1.1 %

Shares of NYSE:WMS traded down $1.13 on Monday, reaching $99.97. The company had a trading volume of 885,611 shares, compared to its average volume of 567,503. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $7.75 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.13 and a beta of 1.48. The stock has a 50-day moving average price of $114.53 and a 200 day moving average price of $128.31. Advanced Drainage Systems, Inc. has a twelve month low of $95.39 and a twelve month high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, equities analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.16 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.64%. Advanced Drainage Systems's payout ratio is presently 10.70%.

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.