Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc grew its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 34.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,530,000 shares of the construction company's stock after buying an additional 650,052 shares during the period. Advanced Drainage Systems makes up 1.3% of Impax Asset Management Group plc's portfolio, making the stock its 23rd largest holding. Impax Asset Management Group plc owned approximately 3.26% of Advanced Drainage Systems worth $291,723,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its holdings in Advanced Drainage Systems by 8.8% during the 3rd quarter. State Street Corp now owns 2,541,688 shares of the construction company's stock valued at $399,452,000 after acquiring an additional 206,105 shares during the period. Fernbridge Capital Management LP boosted its holdings in shares of Advanced Drainage Systems by 108.2% in the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company's stock valued at $39,848,000 after purchasing an additional 131,781 shares during the period. KBC Group NV increased its holdings in Advanced Drainage Systems by 21.2% during the 4th quarter. KBC Group NV now owns 738,749 shares of the construction company's stock worth $85,399,000 after purchasing an additional 129,252 shares during the period. abrdn plc raised its position in Advanced Drainage Systems by 28.5% during the 3rd quarter. abrdn plc now owns 579,485 shares of the construction company's stock valued at $91,683,000 after purchasing an additional 128,539 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Advanced Drainage Systems by 5.8% during the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company's stock worth $217,553,000 after buying an additional 75,455 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Remove Ads

Advanced Drainage Systems Stock Down 1.8 %

Shares of WMS traded down $2.04 during mid-day trading on Thursday, hitting $111.85. 391,504 shares of the company traded hands, compared to its average volume of 625,087. The business has a 50 day moving average of $119.59 and a 200 day moving average of $136.27. The company has a market capitalization of $8.68 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 1-year low of $110.75 and a 1-year high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, February 28th. Advanced Drainage Systems's dividend payout ratio (DPR) is 10.70%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WMS. UBS Group upgraded Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a report on Wednesday, January 8th. Stephens reiterated an "equal weight" rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Loop Capital reduced their price objective on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Barclays cut their price target on Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. Finally, Robert W. Baird cut their target price 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.25.

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.