Algert Global LLC Decreases Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Algert Global LLC trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 40.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,785 shares of the construction company’s stock after selling 24,659 shares during the period. Algert Global LLC’s holdings in Advanced Drainage Systems were worth $5,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Magnetar Financial LLC purchased a new stake in Advanced Drainage Systems during the 1st quarter worth about $525,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Advanced Drainage Systems by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after purchasing an additional 19,626 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Advanced Drainage Systems in the 1st quarter valued at about $580,000. Swedbank AB lifted its holdings in shares of Advanced Drainage Systems by 5.8% in the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock valued at $217,553,000 after purchasing an additional 75,455 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Advanced Drainage Systems by 117.5% in the 1st quarter. Lazard Asset Management LLC now owns 12,032 shares of the construction company’s stock valued at $2,071,000 after purchasing an additional 6,500 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

WMS opened at $131.85 on Friday. The stock has a market cap of $10.22 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. The stock’s 50 day simple moving average is $148.95 and its 200 day simple moving average is $157.56. Advanced Drainage Systems, Inc. has a 1-year low of $117.97 and a 1-year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The firm had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. During the same quarter in the prior year, the company earned $1.71 EPS. The business’s revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is currently 10.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on WMS. Stephens reissued an “equal weight” rating and issued a $135.00 target price (down from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Robert W. Baird reduced their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Barclays reduced their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. KeyCorp reduced their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Loop Capital reduced their price objective on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.