Van ECK Associates Corp Acquires 10,902 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Van ECK Associates Corp boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 40.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,151 shares of the construction company's stock after buying an additional 10,902 shares during the period. Van ECK Associates Corp's holdings in Advanced Drainage Systems were worth $5,695,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WMS. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company's stock valued at $26,000 after buying an additional 115 shares in the last quarter. West Oak Capital LLC boosted its stake in Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company's stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. increased its holdings in Advanced Drainage Systems by 1,472.7% during the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company's stock worth $30,000 after purchasing an additional 162 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Advanced Drainage Systems in the second quarter worth approximately $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Advanced Drainage Systems by 65.2% in the second quarter. GAMMA Investing LLC now owns 451 shares of the construction company's stock valued at $72,000 after purchasing an additional 178 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on WMS shares. Loop Capital lowered their price target on Advanced Drainage Systems from $188.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Robert W. Baird cut 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 report on Friday, August 9th. StockNews.com downgraded shares of Advanced Drainage Systems from a "buy" rating to a "hold" rating in a research report 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 report on Thursday, August 15th. Finally, Barclays cut their target price 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 research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.14.

Advanced Drainage Systems Stock Performance

WMS traded down $23.41 during midday trading on Friday, reaching $135.59. The company had a trading volume of 1,409,739 shares, compared to its average volume of 489,407. Advanced Drainage Systems, Inc. has a 12-month low of $110.38 and a 12-month high of $184.27. The business has a 50-day moving average price of $152.03 and a two-hundred day moving average price of $159.90. The stock has a market cap of $10.51 billion, a PE ratio of 23.01, a P/E/G ratio of 1.38 and a beta of 1.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89.

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, beating the consensus estimate 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 business had revenue of $815.34 million for the quarter, compared to the consensus estimate of $828.00 million. On average, sell-side 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 declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.47%. Advanced Drainage Systems's dividend payout ratio is presently 10.13%.

Advanced Drainage Systems 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.