Renaissance Technologies LLC Sells 51,900 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Renaissance Technologies LLC lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 40.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,500 shares of the construction company's stock after selling 51,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Advanced Drainage Systems worth $8,728,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Advanced Drainage Systems by 12.7% in the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock worth $90,000 after acquiring an additional 88 shares during the period. Spire Wealth Management purchased a new position in Advanced Drainage Systems in the 4th quarter worth approximately $94,000. First Horizon Advisors Inc. grew its holdings in Advanced Drainage Systems by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after purchasing an additional 137 shares in the last quarter. Blue Trust Inc. increased its position in shares of Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock worth $116,000 after acquiring an additional 108 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Advanced Drainage Systems by 1,298.6% during the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company's stock valued at $118,000 after buying an additional 948 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Up 4.2 %

WMS stock traded up $4.45 during trading hours on Wednesday, hitting $109.17. The company's stock had a trading volume of 88,533 shares, compared to its average volume of 633,017. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $8.47 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $184.27. The stock has a 50 day moving average price of $109.74 and a two-hundred day moving average price of $124.03.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates 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, equities 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 announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems's payout ratio is presently 10.70%.

Analyst Ratings Changes

Several research analysts have recently commented on WMS shares. StockNews.com lowered Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Tuesday, April 1st. Stephens restated an "equal weight" rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Loop Capital lowered their target price on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a "buy" rating and a $134.00 price objective for the company. Finally, Barclays reduced their price target on shares of Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $153.78.

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.