Fifth Third Bancorp Has $9.98 Million Position in Advanced Drainage Systems, Inc. $WMS

Fifth Third Bancorp lifted its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 51.9% in the first quarter, HoldingsChannel.com reports. The fund owned 72,766 shares of the construction company’s stock after buying an additional 24,863 shares during the period. Fifth Third Bancorp’s holdings in Advanced Drainage Systems were worth $9,978,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Hsbc Holdings PLC increased its stake in Advanced Drainage Systems by 61.6% in the first quarter. Hsbc Holdings PLC now owns 37,093 shares of the construction company’s stock valued at $5,053,000 after acquiring an additional 14,137 shares during the last quarter. Accredited Investors Inc. bought a new stake in Advanced Drainage Systems during the first quarter worth $330,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Advanced Drainage Systems by 3.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 14,743 shares of the construction company’s stock valued at $2,022,000 after purchasing an additional 439 shares in the last quarter. Praxis Investment Management Inc. boosted its holdings in shares of Advanced Drainage Systems by 7.0% in the 1st quarter. Praxis Investment Management Inc. now owns 2,130 shares of the construction company’s stock valued at $292,000 after purchasing an additional 140 shares in the last quarter. Finally, Oxbow Advisors LLC bought a new position in shares of Advanced Drainage Systems in the 1st quarter valued at $3,183,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $151.49 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.42. Advanced Drainage Systems, Inc. has a 52 week low of $109.63 and a 52 week high of $179.32. The firm has a market cap of $11.61 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26. The firm’s fifty day moving average is $141.86 and its 200-day moving average is $148.91.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The business had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.Advanced Drainage Systems’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WMS. Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $190.00 to $175.00 in a report on Wednesday, May 27th. Barclays raised their price objective on Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group lowered their target price on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Finally, Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a research note on Thursday, June 11th. They issued a “buy” rating and a $175.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

Advanced Drainage Systems Profile

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.