Bank of New York Mellon Corp Buys 12,823 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Bank of New York Mellon Corp grew its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 591,552 shares of the construction company's stock after buying an additional 12,823 shares during the period. Bank of New York Mellon Corp owned approximately 0.76% of Advanced Drainage Systems worth $68,383,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Impax Asset Management Group plc boosted its stake in Advanced Drainage Systems by 34.6% during the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company's stock worth $291,723,000 after acquiring an additional 650,052 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Advanced Drainage Systems during the fourth quarter valued at about $1,950,000. South Dakota Investment Council bought a new position in shares of Advanced Drainage Systems during the 4th quarter worth about $971,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Advanced Drainage Systems in the 4th quarter valued at about $5,055,000. Finally, First Horizon Advisors Inc. grew its stake in Advanced Drainage Systems by 18.3% in the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Price Performance

Advanced Drainage Systems stock traded down $0.15 during midday trading on Friday, hitting $113.27. 195,212 shares of the company's stock were exchanged, compared to its average volume of 531,061. The company has a market cap of $8.79 billion, a P/E ratio of 18.94, a PEG ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. The stock has a 50-day moving average price of $119.08 and a two-hundred day moving average price of $135.17. Advanced Drainage Systems, Inc. has a 52-week low of $101.90 and a 52-week high of $184.27.

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Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 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 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, February 28th. Advanced Drainage Systems's dividend payout ratio is currently 10.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp lowered their target price on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Barclays lowered their price objective 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. Stephens restated an "equal weight" rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. UBS Group raised Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price target for the company in a research report on Wednesday, January 8th. Finally, Loop Capital dropped their price objective on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.25.

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.