Advanced Drainage Systems, Inc. (NYSE:WMS) Position Boosted by State Street Corp

State Street Corp lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 8.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,541,688 shares of the construction company's stock after purchasing an additional 206,105 shares during the quarter. State Street Corp owned about 3.28% of Advanced Drainage Systems worth $399,452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Millennium Management LLC increased its position in shares of Advanced Drainage Systems by 136.2% in the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company's stock worth $50,105,000 after acquiring an additional 180,154 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in Advanced Drainage Systems in the 2nd quarter valued at $28,870,000. Point72 Asset Management L.P. purchased a new position in Advanced Drainage Systems in the second quarter valued at about $21,657,000. Fernbridge Capital Management LP lifted its stake in shares of Advanced Drainage Systems by 108.2% during the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company's stock worth $39,848,000 after purchasing an additional 131,781 shares in the last quarter. Finally, abrdn plc boosted its position 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 buying an additional 128,539 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS traded down $2.26 on Tuesday, reaching $128.24. 696,983 shares of the company's stock were exchanged, compared to its average volume of 513,734. The business's 50-day moving average is $144.33 and its two-hundred day moving average is $154.23. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. Advanced Drainage Systems, Inc. has a fifty-two week low of $123.94 and a fifty-two week high of $184.27. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.25 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.93 by ($0.23). The company had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. Advanced Drainage Systems's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.71 earnings per share. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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 given a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.50%. Advanced Drainage Systems's dividend payout ratio is presently 10.19%.

Analyst Upgrades and Downgrades

WMS has been the topic of several recent research reports. Robert W. Baird reduced their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. Oppenheimer lowered their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Barclays decreased their price objective on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Loop Capital cut their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Finally, KeyCorp dropped their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $170.29.

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.