Legal & General Group Plc Cuts Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Legal & General Group Plc reduced its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 182,999 shares of the construction company's stock after selling 7,515 shares during the quarter. Legal & General Group Plc owned 0.24% of Advanced Drainage Systems worth $21,155,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $86,185,000. Impax Asset Management Group plc raised its position in Advanced Drainage Systems by 34.6% in the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company's stock worth $291,723,000 after acquiring an additional 650,052 shares in the last quarter. Amundi lifted its holdings in Advanced Drainage Systems by 72.2% in the fourth quarter. Amundi now owns 854,764 shares of the construction company's stock valued at $98,678,000 after acquiring an additional 358,271 shares during the period. KBC Group NV boosted its position in shares of 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 in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Advanced Drainage Systems by 32.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 359,111 shares of the construction company's stock worth $41,513,000 after purchasing an additional 87,297 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

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Advanced Drainage Systems Trading Down 0.8 %

Shares of NYSE:WMS traded down $0.81 during trading on Tuesday, reaching $104.88. The stock had a trading volume of 349,187 shares, compared to its average volume of 575,289. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.14 billion, a P/E ratio of 17.54, a PEG ratio of 1.13 and a beta of 1.48. The business has a fifty day moving average price of $111.83 and a 200-day moving average price of $125.84. Advanced Drainage Systems, Inc. has a fifty-two week low of $93.92 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results 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 net margin of 15.90% and a return on equity of 35.79%. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 10.70%.

Wall Street Analyst Weigh In

WMS has been the topic of a number of research analyst reports. Loop Capital decreased their price objective on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a "buy" rating and a $134.00 price objective for the company. Barclays lowered their target price on Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. KeyCorp cut their price target on Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group upgraded shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.78.

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.