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

abrdn plc boosted its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 28.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 579,485 shares of the construction company's stock after acquiring an additional 128,539 shares during the quarter. abrdn plc owned about 0.75% of Advanced Drainage Systems worth $91,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of Advanced Drainage Systems by 24.8% during the first 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 last quarter. Nordea Investment Management AB lifted its stake in shares of 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 acquiring an additional 11,423 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Advanced Drainage Systems in the first quarter valued at about $525,000. Price T Rowe Associates Inc. MD increased its stake in shares of Advanced Drainage Systems by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company's stock worth $24,059,000 after acquiring an additional 19,626 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Advanced Drainage Systems by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company's stock worth $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Advanced Drainage Systems Price Performance

NYSE:WMS traded up $1.00 during trading hours on Wednesday, reaching $152.63. 324,196 shares of the company traded hands, compared to its average volume of 487,000. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The firm's 50-day moving average is $152.55 and its 200-day moving average is $160.06. The stock has a market cap of $11.83 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.27 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 1-year low of $104.16 and a 1-year high of $184.27.

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

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, August 30th. Advanced Drainage Systems's payout ratio is 10.13%.

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.