JPMorgan Chase & Co. Reduces Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

JPMorgan Chase & Co. reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,450 shares of the construction company's stock after selling 8,722 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Advanced Drainage Systems worth $39,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anchor Investment Management LLC raised its position in shares of Advanced Drainage Systems by 31.8% during the 3rd quarter. Anchor Investment Management LLC now owns 2,011 shares of the construction company's stock worth $316,000 after purchasing an additional 485 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Advanced Drainage Systems by 5.2% in the third quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company's stock worth $186,578,000 after acquiring an additional 59,158 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Advanced Drainage Systems by 28.3% in the third quarter. Duff & Phelps Investment Management Co. now owns 152,954 shares of the construction company's stock valued at $24,038,000 after acquiring an additional 33,754 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Advanced Drainage Systems by 1.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,672 shares of the construction company's stock worth $6,078,000 after purchasing an additional 558 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Advanced Drainage Systems by 4.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 20,249 shares of the construction company's stock valued at $3,182,000 after purchasing an additional 819 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WMS has been the subject of a number of recent research reports. KeyCorp lowered 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 report on Monday, November 11th. Oppenheimer cut 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 reduced their price target 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. Loop Capital lowered their price objective 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. Finally, 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 research 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $170.29.

Advanced Drainage Systems Trading Down 0.5 %

WMS traded down $0.53 during trading on Monday, hitting $114.94. 595,952 shares of the company's stock were exchanged, compared to its average volume of 456,717. Advanced Drainage Systems, Inc. has a 1 year low of $113.10 and a 1 year high of $184.27. The stock has a 50 day moving average price of $131.04 and a 200 day moving average price of $147.38. The firm has a market cap of $8.91 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.93 by ($0.23). The business 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%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company posted $1.71 earnings per share. As a group, analysts expect that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.56%. Advanced Drainage Systems's dividend payout ratio is currently 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.