Alliancebernstein L.P. Has $10.44 Million Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Alliancebernstein L.P. lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,313 shares of the construction company's stock after selling 3,483 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Advanced Drainage Systems worth $10,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock valued at $90,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. grew its holdings in Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock worth $116,000 after acquiring an additional 108 shares during the period. CIBC Asset Management Inc raised its position in Advanced Drainage Systems by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company's stock worth $276,000 after acquiring an additional 119 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Advanced Drainage Systems by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company's stock valued at $231,000 after acquiring an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Advanced Drainage Systems by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 89.83% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently commented on WMS. UBS Group raised shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 target price for the company in a research note on Wednesday, January 8th. StockNews.com lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a "buy" rating and a $134.00 target price on the stock. KeyCorp decreased their price target on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Stephens restated an "equal weight" rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.78.

Advanced Drainage Systems Stock Down 1.2 %

Advanced Drainage Systems stock traded down $1.26 during trading hours on Tuesday, hitting $104.43. The company had a trading volume of 128,048 shares, compared to its average volume of 573,687. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $184.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. The firm has a market capitalization of $8.10 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The firm's fifty day moving average is $112.08 and its 200-day moving average is $125.99.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share 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, 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 company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. Advanced Drainage Systems's dividend payout ratio is 10.70%.

Advanced Drainage Systems 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.