D.B. Root & Company LLC Purchases Shares of 4,221 Advanced Drainage Systems, Inc. $WMS

D.B. Root & Company LLC acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,221 shares of the construction company’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP bought a new stake in shares of Advanced Drainage Systems during the 2nd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. raised its holdings in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after acquiring an additional 176 shares during the period. SJS Investment Consulting Inc. lifted its position in Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after acquiring an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Advanced Drainage Systems during the third quarter worth approximately $36,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Advanced Drainage Systems during the fourth quarter worth approximately $37,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Performance

WMS opened at $143.91 on Monday. The firm has a market cap of $10.85 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 52-week low of $128.03 and a 52-week high of $179.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The business’s fifty day moving average is $146.28 and its 200-day moving average is $147.25.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. During the same quarter last year, the business earned $1.95 earnings per share. 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 fiscal year.

Advanced Drainage Systems Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research raised Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Finally, Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They set a “buy” rating and a $175.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.