Independent Advisor Alliance Acquires Shares of 5,975 Advanced Drainage Systems, Inc. (NYSE:WMS)

Independent Advisor Alliance purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,975 shares of the construction company's stock, valued at approximately $939,000.

Several other hedge funds have also modified their holdings of the company. West Oak Capital LLC grew its position in Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company's stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company's stock valued at $30,000 after purchasing an additional 162 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at approximately $45,000. Huntington National Bank boosted its holdings in shares of Advanced Drainage Systems by 123.1% in the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company's stock worth $61,000 after purchasing an additional 213 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Advanced Drainage Systems by 65.2% during the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the construction company's stock valued at $72,000 after purchasing an additional 178 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 1.2 %

NYSE WMS traded up $1.58 on Thursday, hitting $133.23. The stock had a trading volume of 654,324 shares, compared to its average volume of 710,256. Advanced Drainage Systems, Inc. has a 52-week low of $119.25 and a 52-week high of $184.27. The business's fifty day moving average price is $147.98 and its 200 day moving average price is $156.76. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share 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 company had revenue of $782.60 million for the quarter, compared to analysts' expectations of $819.41 million. During the same period in the prior year, the firm posted $1.71 EPS. The firm's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid 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 yield of 0.48%. Advanced Drainage Systems's payout ratio is presently 10.19%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stephens restated an "equal weight" rating and issued a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. 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 research note on Monday, November 11th. Barclays reduced their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. KeyCorp lowered their target price 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. Finally, Oppenheimer cut their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems presently has an average rating of "Moderate Buy" and a consensus target price of $170.29.

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.