Allspring Global Investments Holdings LLC Cuts Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Allspring Global Investments Holdings LLC lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 93.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,355 shares of the construction company's stock after selling 226,532 shares during the period. Allspring Global Investments Holdings LLC's holdings in Advanced Drainage Systems were worth $1,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WMS. Huntington National Bank lifted its position in shares of Advanced Drainage Systems by 123.1% in the third quarter. Huntington National Bank now owns 386 shares of the construction company's stock valued at $61,000 after acquiring an additional 213 shares in the last quarter. Millburn Ridgefield Corp raised its stake in Advanced Drainage Systems by 642.4% in the 3rd quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company's stock valued at $77,000 after purchasing an additional 424 shares during the last quarter. CWM LLC grew its holdings in shares of Advanced Drainage Systems by 18.1% during the third quarter. CWM LLC now owns 555 shares of the construction company's stock worth $87,000 after buying an additional 85 shares in the last quarter. UMB Bank n.a. raised its position in shares of Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock valued at $90,000 after buying an additional 88 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in Advanced Drainage Systems in the 4th quarter valued at about $94,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com upgraded Advanced Drainage Systems from a "sell" rating to a "hold" rating in a research report on Saturday. Oppenheimer dropped their price objective 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. Loop Capital decreased their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, February 7th. UBS Group upgraded shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price target for the company in a report on Wednesday, January 8th. Finally, KeyCorp decreased 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of "Moderate Buy" and an average target price of $164.25.

Advanced Drainage Systems Trading Up 1.8 %

NYSE WMS traded up $2.02 on Tuesday, reaching $116.09. The stock had a trading volume of 414,943 shares, compared to its average volume of 637,676. The stock has a fifty day moving average price of $119.70 and a two-hundred day moving average price of $136.60. Advanced Drainage Systems, Inc. has a 12-month low of $110.75 and a 12-month high of $184.27. 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 firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.13 and a beta of 1.52.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. As a group, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.55%. Advanced Drainage Systems's dividend payout ratio (DPR) 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.