3,615 Shares in Advanced Drainage Systems, Inc. $WMS Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,615 shares of the construction company’s stock, valued at approximately $518,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Advanced Drainage Systems during the 2nd quarter worth $1,172,482,000. State Street Corp grew its holdings in shares of Advanced Drainage Systems by 3.1% in the third quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock valued at $353,949,000 after purchasing an additional 75,777 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Advanced Drainage Systems by 32.9% in the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after purchasing an additional 546,298 shares during the period. Amundi increased its position in Advanced Drainage Systems by 0.7% during the first quarter. Amundi now owns 1,288,672 shares of the construction company’s stock worth $176,734,000 after purchasing an additional 9,096 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Advanced Drainage Systems by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company’s stock worth $184,184,000 after purchasing an additional 15,069 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 2.8%

Shares of NYSE:WMS opened at $142.36 on Friday. The business has a 50-day moving average price of $146.09 and a 200 day moving average price of $147.34. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 1.60 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 12-month low of $128.03 and a 12-month high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. During the same period in the previous year, the firm earned $1.95 EPS. Advanced Drainage Systems’s revenue was up 20.6% on a year-over-year basis. Sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 13.82%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WMS. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Jefferies Financial Group started 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 for the company. Royal Bank Of Canada raised their price target on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Oppenheimer reduced their price target on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 26th. Finally, Barclays upped their price objective on Advanced Drainage Systems from $181.00 to $191.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.38.

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.