Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can grew its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 20.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,568 shares of the construction company's stock after purchasing an additional 12,559 shares during the period. Bank of Montreal Can owned approximately 0.10% of Advanced Drainage Systems worth $11,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in WMS. Swedbank AB raised its stake in Advanced Drainage Systems by 5.8% during the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company's stock worth $217,553,000 after purchasing an additional 75,455 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Advanced Drainage Systems by 800.5% in the second quarter. Assenagon Asset Management S.A. now owns 18,353 shares of the construction company's stock valued at $2,944,000 after acquiring an additional 16,315 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Advanced Drainage Systems in the second quarter worth approximately $2,096,000. Rathbones Group PLC increased its stake in Advanced Drainage Systems by 4.3% during the second quarter. Rathbones Group PLC now owns 206,970 shares of the construction company's stock worth $33,196,000 after acquiring an additional 8,468 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Advanced Drainage Systems during the second quarter worth $21,657,000. Institutional investors and hedge funds own 89.83% of the company's stock.

Advanced Drainage Systems Stock Down 1.0 %

Shares of Advanced Drainage Systems stock traded down $1.36 during trading on Monday, hitting $133.93. 477,280 shares of the stock were exchanged, compared to its average volume of 507,454. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The firm's 50-day moving average price is $147.19 and its 200 day moving average price is $156.09. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. Advanced Drainage Systems, Inc. has a 12-month low of $122.61 and a 12-month high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same period in the prior year, the company posted $1.71 earnings per share. The company's revenue was up .3% compared to the same quarter last year. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.48%. Advanced Drainage Systems's payout ratio is currently 10.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WMS. Loop Capital lowered their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating for the company in a research report on Monday, November 11th. 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. Stephens reiterated an "equal weight" rating and set a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. KeyCorp dropped their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Finally, Robert W. Baird reduced their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.