KLP Kapitalforvaltning AS Purchases New Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

KLP Kapitalforvaltning AS acquired a new position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,000 shares of the construction company's stock, valued at approximately $1,734,000.

Other hedge funds have also bought and sold shares of the company. State Street Corp grew its position in shares of Advanced Drainage Systems by 8.8% in the third quarter. State Street Corp now owns 2,541,688 shares of the construction company's stock valued at $399,452,000 after purchasing an additional 206,105 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Advanced Drainage Systems by 50.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company's stock valued at $11,186,000 after buying an additional 32,418 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Advanced Drainage Systems during the third quarter valued at about $2,694,000. KBC Group NV lifted its holdings in shares of Advanced Drainage Systems by 21.2% in the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company's stock worth $85,399,000 after buying an additional 129,252 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Advanced Drainage Systems by 5.2% during the third quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company's stock valued at $186,578,000 after acquiring an additional 59,158 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

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Advanced Drainage Systems Price Performance

NYSE WMS traded up $0.87 on Wednesday, reaching $109.85. 541,903 shares of the company's stock traded hands, compared to its average volume of 559,775. The stock has a market cap of $8.52 billion, a PE ratio of 18.37, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. Advanced Drainage Systems, Inc. has a 12 month low of $101.90 and a 12 month high of $184.27. The stock has a 50-day simple moving average of $115.98 and a 200 day simple moving average of $129.51.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. As a group, research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.58%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems's dividend payout ratio is presently 10.70%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays cut their price target on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating for the company in a report on Friday, February 7th. StockNews.com cut Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Tuesday. UBS Group raised Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price target on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a report on Tuesday. They set a "buy" rating and a $134.00 price objective for the company. Finally, Loop Capital lowered their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Advanced Drainage Systems currently has an average rating of "Moderate Buy" and an average target price of $160.89.

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.