Pictet Asset Management Holding SA Lowers Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Pictet Asset Management Holding SA reduced its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,130,155 shares of the construction company's stock after selling 98,861 shares during the period. Pictet Asset Management Holding SA owned approximately 4.04% of Advanced Drainage Systems worth $361,846,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WMS. Charles Schwab Investment Management Inc. grew its holdings in Advanced Drainage Systems by 15.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 562,052 shares of the construction company's stock valued at $88,332,000 after purchasing an additional 75,008 shares during the last quarter. Cerity Partners LLC raised its position in shares of Advanced Drainage Systems by 4.3% in the 3rd quarter. Cerity Partners LLC now owns 28,432 shares of the construction company's stock worth $4,468,000 after acquiring an additional 1,160 shares in the last quarter. Independent Advisor Alliance purchased a new stake in shares of Advanced Drainage Systems during the third quarter valued at about $939,000. Bank of Montreal Can boosted its stake in Advanced Drainage Systems by 20.3% in the third quarter. Bank of Montreal Can now owns 74,568 shares of the construction company's stock valued at $11,953,000 after acquiring an additional 12,559 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Advanced Drainage Systems by 50.8% in the 3rd quarter. FMR LLC now owns 54,341 shares of the construction company's stock worth $8,540,000 after purchasing an additional 18,313 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

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Wall Street Analysts Forecast Growth

WMS has been the subject of a number of research analyst reports. StockNews.com upgraded Advanced Drainage Systems from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Barclays reduced their price objective on Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Stephens reiterated an "equal weight" rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a research report on Friday, February 7th. UBS Group raised shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price target for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Advanced Drainage Systems in a research note on Tuesday. They issued a "buy" rating and a $134.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Advanced Drainage Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.89.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS traded up $0.08 during trading on Tuesday, hitting $108.73. The company had a trading volume of 161,561 shares, compared to its average volume of 639,057. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The stock has a fifty day simple moving average of $116.61 and a two-hundred day simple moving average of $129.92. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a fifty-two week low of $101.90 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.59%. Advanced Drainage Systems's dividend payout ratio is presently 10.70%.

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.