745,547 Shares in Advanced Drainage Systems, Inc. (NYSE:WMS) Purchased by Norges Bank

Norges Bank purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 745,547 shares of the construction company’s stock, valued at approximately $86,185,000. Norges Bank owned approximately 0.96% of Advanced Drainage Systems as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. UMB Bank n.a. raised its stake in Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. raised its position in shares of Advanced Drainage Systems by 12.0% during the 4th quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock valued at $116,000 after buying an additional 108 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Advanced Drainage Systems by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company’s stock worth $276,000 after acquiring an additional 119 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Advanced Drainage Systems by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company’s stock worth $231,000 after acquiring an additional 125 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Advanced Drainage Systems by 18.3% in the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock valued at $102,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Up 0.8 %

WMS opened at $109.85 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. Advanced Drainage Systems, Inc. has a one year low of $101.90 and a one year high of $184.27. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.13 and a beta of 1.61. The business has a 50 day simple moving average of $115.98 and a two-hundred day simple moving average of $129.51.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.70%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WMS. Stephens reaffirmed an “equal weight” rating and set a $135.00 price target on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a research note on Tuesday. They issued a “buy” rating and a $134.00 target price for the company. StockNews.com downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays cut their price objective on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, Loop Capital decreased their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.89.

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.