Wealthfront Advisers LLC Invests $5.28 Million in Advanced Drainage Systems, Inc. (NYSE:WMS)

Wealthfront Advisers LLC bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) during the 4th quarter, HoldingsChannel reports. The fund bought 45,686 shares of the construction company’s stock, valued at approximately $5,281,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank lifted its position in Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after purchasing an additional 213 shares during the period. Millburn Ridgefield Corp raised its stake in Advanced Drainage Systems by 642.4% during the 3rd quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock valued at $77,000 after buying an additional 424 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after buying an additional 88 shares during the period. Spire Wealth Management purchased a new position in shares of Advanced Drainage Systems in the 4th quarter worth $94,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after buying an additional 137 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Loop Capital reduced their price objective on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Stephens reaffirmed an “equal weight” rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research report on Friday, February 7th. Barclays lowered their price objective on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.25.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $109.65 on Thursday. Advanced Drainage Systems, Inc. has a twelve month low of $101.90 and a twelve month high of $184.27. The stock has a market capitalization of $8.51 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The firm’s 50 day moving average price is $118.75 and its 200-day moving average price is $133.65. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, February 6th. The construction company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. Equities research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Friday, February 28th. Advanced Drainage Systems’s payout ratio is 10.70%.

Advanced Drainage Systems 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.