Fmr LLC Grows Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

FMR LLC raised its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 50.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,341 shares of the construction company's stock after purchasing an additional 18,313 shares during the period. FMR LLC owned 0.07% of Advanced Drainage Systems worth $8,540,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WMS. Millennium Management LLC grew its position in shares of Advanced Drainage Systems by 136.2% during 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 during the last quarter. Lazard Freres Gestion S.A.S. purchased a new position in shares of Advanced Drainage Systems during the second quarter worth approximately $28,870,000. Point72 Asset Management L.P. purchased a new position in shares of Advanced Drainage Systems during the second quarter worth approximately $21,657,000. abrdn plc grew its position in shares of Advanced Drainage Systems by 28.5% during the third quarter. abrdn plc now owns 579,485 shares of the construction company's stock worth $91,683,000 after acquiring an additional 128,539 shares during the last quarter. Finally, Fernbridge Capital Management LP purchased a new position in shares of Advanced Drainage Systems during the second quarter worth approximately $19,530,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS traded down $1.70 during trading on Thursday, hitting $128.09. 521,470 shares of the company were exchanged, compared to its average volume of 513,368. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.23 and a beta of 1.48. Advanced Drainage Systems, Inc. has a 1 year low of $123.94 and a 1 year high of $184.27. The firm's fifty day moving average price is $143.25 and its 200 day moving average price is $153.73. 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 (NYSE:WMS - Get Free Report) last issued its earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). The company had revenue of $782.60 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. Advanced Drainage Systems's payout ratio is currently 10.19%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WMS. Oppenheimer decreased their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Robert W. Baird decreased their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company in a report on Monday, November 11th. KeyCorp decreased their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Loop Capital decreased their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating for the company in a report on Monday, November 11th. Finally, Stephens reaffirmed an "equal weight" rating and set a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.