Empowered Funds LLC Makes New $1.02 Million Investment in Advanced Drainage Systems, Inc. $WMS

Empowered Funds LLC bought a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,520 shares of the construction company’s stock, valued at approximately $1,023,000.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP purchased a new stake in Advanced Drainage Systems in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. increased its position 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 worth $26,000 after purchasing an additional 176 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth about $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter valued at about $37,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $135.66 on Friday. Advanced Drainage Systems, Inc. has a 1 year low of $128.03 and a 1 year high of $179.32. The company has a fifty day simple moving average of $144.58 and a 200 day simple moving average of $145.15. 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 cap of $10.23 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.47 and a beta of 1.28.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results 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. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The firm’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business posted $1.95 earnings per share. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.62 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 13.82%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WMS. Robert W. Baird set a $206.00 target price on shares of Advanced Drainage Systems in a research note on Friday, August 7th. Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. DA Davidson assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, August 25th. They set a “buy” rating and a $190.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Finally, Royal Bank Of Canada increased their target price on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.70.

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.