Wealth Enhancement Advisory Services LLC Sells 6,897 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) by 52.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,172 shares of the construction company's stock after selling 6,897 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Advanced Drainage Systems were worth $970,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 acquiring an additional 115 shares during the period. West Oak Capital LLC increased its stake in Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company's stock valued at $28,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. increased its stake in Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company's stock valued at $30,000 after acquiring an additional 162 shares during the period. National Bank of Canada FI bought a new stake in Advanced Drainage Systems in the second quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its stake in 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 acquiring an additional 178 shares during the period. Institutional investors own 89.83% of the company's stock.

Advanced Drainage Systems Stock Performance

WMS stock traded up $8.27 during trading hours on Wednesday, reaching $163.52. The stock had a trading volume of 642,848 shares, compared to its average volume of 483,833. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The stock has a market capitalization of $12.68 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.53. The stock has a 50-day simple moving average of $151.83 and a 200 day simple moving average of $159.88. Advanced Drainage Systems, Inc. has a fifty-two week low of $110.31 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping 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 firm had revenue of $815.34 million during the quarter, compared to analysts' expectations of $828.00 million. Analysts predict that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems's payout ratio is presently 10.13%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Advanced Drainage Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Barclays cut their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Loop Capital lowered their target price on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Robert W. Baird lowered their target price on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, Oppenheimer reissued an "outperform" rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.14.

About Advanced Drainage Systems

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.