Allspring Global Investments Holdings LLC Sells 29,756 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Allspring Global Investments Holdings LLC trimmed its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,887 shares of the construction company's stock after selling 29,756 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.31% of Advanced Drainage Systems worth $38,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its holdings in Advanced Drainage Systems by 24.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company's stock worth $11,006,000 after purchasing an additional 12,655 shares during the period. Nordea Investment Management AB raised its holdings in Advanced Drainage Systems by 10.3% in the 1st quarter. Nordea Investment Management AB now owns 121,851 shares of the construction company's stock worth $21,178,000 after purchasing an additional 11,423 shares during the period. Magnetar Financial LLC purchased a new stake in Advanced Drainage Systems in the 1st quarter worth $525,000. Price T Rowe Associates Inc. MD increased its stake in Advanced Drainage Systems by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company's stock worth $24,059,000 after buying an additional 19,626 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Advanced Drainage Systems by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company's stock worth $1,251,353,000 after buying an additional 395,099 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Trading Down 2.1 %

Shares of NYSE:WMS traded down $3.24 during trading on Wednesday, reaching $149.13. The company's stock had a trading volume of 226,684 shares, compared to its average volume of 491,518. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems, Inc. has a 12 month low of $102.32 and a 12 month high of $184.27. The firm's 50 day simple moving average is $152.49 and its two-hundred day simple moving average is $160.70. The stock has a market capitalization of $11.56 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The firm had revenue of $815.34 million during the quarter, compared to the consensus estimate of $828.00 million. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems's payout ratio is 9.94%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Oppenheimer reiterated an "outperform" rating and issued a $192.00 price target on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Loop Capital cut their price target on Advanced Drainage Systems from $188.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Barclays cut their price target on Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. StockNews.com lowered Advanced Drainage Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird cut their price objective on Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $190.14.

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.