Victory Capital Management Inc. Trims Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Victory Capital Management Inc. trimmed its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 83.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,211 shares of the construction company's stock after selling 136,979 shares during the quarter. Victory Capital Management Inc.'s holdings in Advanced Drainage Systems were worth $3,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WMS. Huntington National Bank increased its stake in shares of Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company's stock worth $61,000 after acquiring an additional 213 shares during the period. Millburn Ridgefield Corp boosted its holdings in Advanced Drainage Systems by 642.4% in the 3rd quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company's stock valued at $77,000 after purchasing an additional 424 shares in the last quarter. UMB Bank n.a. increased its position in Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock worth $90,000 after purchasing an additional 88 shares during the period. Spire Wealth Management purchased a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $94,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock valued at $102,000 after buying an additional 137 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WMS. Barclays dropped their price objective on Advanced Drainage Systems from $160.00 to $149.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. StockNews.com upgraded shares of Advanced Drainage Systems from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Stephens reissued an "equal weight" rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Loop Capital lowered their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, UBS Group upgraded 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and an average target price of $164.25.

Advanced Drainage Systems Price Performance

Shares of NYSE WMS traded down $2.24 on Thursday, hitting $109.66. The company's stock had a trading volume of 251,950 shares, compared to its average volume of 536,643. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. The stock has a 50 day moving average of $118.20 and a 200-day moving average of $131.93. Advanced Drainage Systems, Inc. has a 12-month low of $101.90 and a 12-month high of $184.27. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.

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

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 28th. 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.