Impax Asset Management Group plc Reduces Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Impax Asset Management Group plc decreased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,879,948 shares of the construction company's stock after selling 196,328 shares during the quarter. Advanced Drainage Systems comprises approximately 1.2% of Impax Asset Management Group plc's investment portfolio, making the stock its 28th largest holding. Impax Asset Management Group plc owned about 2.43% of Advanced Drainage Systems worth $294,783,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WMS. Swedbank AB bought a new position in Advanced Drainage Systems in the first quarter worth approximately $220,853,000. Vanguard Group Inc. grew its position 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 valued at $1,251,353,000 after purchasing an additional 395,099 shares during the period. Boston Partners increased its stake in Advanced Drainage Systems by 16.9% during the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company's stock valued at $261,609,000 after purchasing an additional 219,629 shares in the last quarter. Millennium Management LLC raised its holdings in Advanced Drainage Systems by 136.2% during the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company's stock worth $50,105,000 after buying an additional 180,154 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. acquired a new position in Advanced Drainage Systems during the second quarter worth $28,870,000. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock traded up $3.06 during mid-day trading on Tuesday, reaching $155.25. 240,224 shares of the company's stock were exchanged, compared to its average volume of 483,090. The business's fifty day simple moving average is $151.90 and its 200 day simple moving average is $159.89. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems, Inc. has a one year low of $110.31 and a one year high of $184.27. The firm has a market capitalization of $12.03 billion, a PE ratio of 24.27, a P/E/G ratio of 1.27 and a beta of 1.53.

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

Advanced Drainage Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems's payout ratio is 10.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays decreased their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Robert W. Baird dropped their target price on Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. StockNews.com downgraded Advanced Drainage Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 17th. Loop Capital dropped their price objective 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. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus 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.