Geode Capital Management LLC Boosts Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Geode Capital Management LLC increased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,186,878 shares of the construction company's stock after acquiring an additional 59,158 shares during the quarter. Geode Capital Management LLC owned approximately 1.53% of Advanced Drainage Systems worth $186,578,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. lifted its holdings in Advanced Drainage Systems by 28.3% during the third quarter. Duff & Phelps Investment Management Co. now owns 152,954 shares of the construction company's stock worth $24,038,000 after acquiring an additional 33,754 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Advanced Drainage Systems by 1.5% in the third quarter. Public Employees Retirement System of Ohio now owns 38,672 shares of the construction company's stock valued at $6,078,000 after acquiring an additional 558 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Advanced Drainage Systems by 4.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 20,249 shares of the construction company's stock valued at $3,182,000 after acquiring an additional 819 shares in the last quarter. MML Investors Services LLC boosted its holdings in Advanced Drainage Systems by 9.5% in the 3rd quarter. MML Investors Services LLC now owns 2,607 shares of the construction company's stock valued at $410,000 after purchasing an additional 226 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at $2,694,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WMS. Barclays cut their price objective on Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating for the company in a report on Monday, November 11th. Oppenheimer cut their price objective 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. Stephens reaffirmed an "equal weight" rating and issued a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Finally, Robert W. Baird cut their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating for the company 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $170.29.

Advanced Drainage Systems Trading Down 2.4 %

Advanced Drainage Systems stock traded down $2.98 during trading hours on Monday, reaching $123.70. The stock had a trading volume of 615,160 shares, compared to its average volume of 514,718. The stock has a market cap of $9.59 billion, a PE ratio of 20.17, a PEG ratio of 1.22 and a beta of 1.48. The company has a fifty day simple moving average of $142.14 and a 200-day simple moving average of $152.96. 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 52 week low of $123.53 and a 52 week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $819.41 million. During the same period in the previous year, the business earned $1.71 EPS. The business's revenue was up .3% compared to the same quarter last year. Analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 0.52%. Advanced Drainage Systems's dividend payout ratio is presently 10.19%.

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.