Zacks Investment Management Acquires Shares of 17,140 Advanced Drainage Systems, Inc. (NYSE:WMS)

Zacks Investment Management purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,140 shares of the construction company's stock, valued at approximately $2,694,000.

Other hedge funds have also recently made changes to their positions in the company. Advantage Alpha Capital Partners LP purchased a new stake in shares of Advanced Drainage Systems in the third quarter worth $8,540,000. Swedbank AB increased its holdings in Advanced Drainage Systems by 5.8% in the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company's stock valued at $217,553,000 after acquiring an additional 75,455 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Advanced Drainage Systems by 800.5% in the second quarter. Assenagon Asset Management S.A. now owns 18,353 shares of the construction company's stock worth $2,944,000 after buying an additional 16,315 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at approximately $2,096,000. Finally, Rathbones Group PLC grew its stake in shares of Advanced Drainage Systems by 4.3% in the 2nd quarter. Rathbones Group PLC now owns 206,970 shares of the construction company's stock worth $33,196,000 after buying an additional 8,468 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WMS shares. Loop Capital cut their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Barclays cut their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Stephens reaffirmed an "equal weight" rating and set a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. KeyCorp decreased their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Finally, Oppenheimer decreased their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $170.29.

Advanced Drainage Systems Stock Performance

Shares of WMS stock traded up $0.62 during trading hours on Monday, hitting $130.50. The company's stock had a trading volume of 562,117 shares, compared to its average volume of 512,961. The stock has a market cap of $10.12 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.48. The company has a 50 day moving average of $144.33 and a 200 day moving average of $154.23. Advanced Drainage Systems, Inc. has a 12-month low of $123.94 and a 12-month high of $184.27. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company had revenue of $782.60 million during the quarter, compared to analysts' expectations of $819.41 million. During the same quarter in the previous year, the company earned $1.71 EPS. The firm's quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 10.19%.

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.