abrdn plc Grows Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

abrdn plc boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 28.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 579,485 shares of the construction company's stock after purchasing an additional 128,539 shares during the period. abrdn plc owned about 0.75% of Advanced Drainage Systems worth $91,683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC purchased a new position in shares of Advanced Drainage Systems during the 1st quarter valued at about $224,000. State of Michigan Retirement System raised its stake in Advanced Drainage Systems by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 16,800 shares of the construction company's stock valued at $2,894,000 after purchasing an additional 400 shares during the period. Norden Group LLC bought a new stake in Advanced Drainage Systems during the 1st quarter valued at approximately $353,000. Marshall Financial Group LLC raised its stake in Advanced Drainage Systems by 8.3% during the 1st quarter. Marshall Financial Group LLC now owns 7,129 shares of the construction company's stock valued at $1,228,000 after purchasing an additional 544 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Advanced Drainage Systems by 12.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 11,915 shares of the construction company's stock valued at $2,052,000 after purchasing an additional 1,360 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Up 1.4 %

Shares of Advanced Drainage Systems stock traded up $2.13 on Wednesday, reaching $153.76. The company had a trading volume of 126,363 shares, compared to its average volume of 486,060. The firm's 50-day moving average price is $152.64 and its two-hundred day moving average price is $160.12. Advanced Drainage Systems, Inc. has a 1 year low of $104.16 and a 1 year high of $184.27. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 1.27 and a beta of 1.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share 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 business had revenue of $815.34 million for the quarter, compared to analysts' expectations of $828.00 million. As a group, research analysts predict that Advanced Drainage Systems, Inc. will post 6.95 earnings per share 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. Stockholders of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.42%. Advanced Drainage Systems's payout ratio is 10.13%.

Analyst Ratings Changes

WMS has been the topic of several recent analyst reports. StockNews.com downgraded Advanced Drainage Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Oppenheimer reissued an "outperform" rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Loop Capital decreased their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Robert W. Baird reduced their price objective on Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. Finally, Barclays reduced their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. One 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.