Pier Capital LLC Increases Holdings in Advanced Drainage Systems, Inc. $WMS

Pier Capital LLC lifted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 69,891.7% in the 4th quarter, HoldingsChannel reports. The firm owned 50,394 shares of the construction company’s stock after purchasing an additional 50,322 shares during the quarter. Pier Capital LLC’s holdings in Advanced Drainage Systems were worth $7,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $265,000. Welch Financial Planning LLC purchased a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $290,000. QRG Capital Management Inc. raised its stake in shares of Advanced Drainage Systems by 49.3% in the fourth quarter. QRG Capital Management Inc. now owns 6,805 shares of the construction company’s stock worth $986,000 after purchasing an additional 2,248 shares during the last quarter. Strs Ohio raised its stake in shares of Advanced Drainage Systems by 704.7% in the fourth quarter. Strs Ohio now owns 13,592 shares of the construction company’s stock worth $1,969,000 after purchasing an additional 11,903 shares during the last quarter. Finally, Horizon Investments LLC raised its stake in shares of Advanced Drainage Systems by 16,022.2% in the fourth quarter. Horizon Investments LLC now owns 1,451 shares of the construction company’s stock worth $210,000 after purchasing an additional 1,442 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Down 3.2%

Shares of WMS opened at $143.96 on Friday. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72. Advanced Drainage Systems, Inc. has a 12 month low of $104.69 and a 12 month high of $179.32. The stock’s 50 day moving average is $146.94 and its two-hundred day moving average is $150.44. The firm has a market cap of $11.21 billion, a P/E ratio of 23.95, a PEG ratio of 1.56 and a beta of 1.33.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The company had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. During the same period last year, the company earned $1.09 earnings per share. Advanced Drainage Systems’s quarterly revenue was up .4% compared to the same quarter last year. Analysts predict that Advanced Drainage Systems, Inc. will post 6.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

WMS has been the subject of several recent research reports. Robert W. Baird set a $205.00 price target on Advanced Drainage Systems in a research report on Friday, February 6th. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Oppenheimer reiterated an “outperform” rating and set a $195.00 price target (down from $200.00) on shares of Advanced Drainage Systems in a research report on Friday, April 17th. Barclays reduced their price target on Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.29.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.