Nissay Asset Management Corp Japan ADV Reduces Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Nissay Asset Management Corp Japan ADV trimmed its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 27.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,695 shares of the construction company’s stock after selling 29,544 shares during the quarter. Nissay Asset Management Corp Japan ADV owned approximately 0.10% of Advanced Drainage Systems worth $8,864,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WMS. Norges Bank acquired a new stake in Advanced Drainage Systems in the 4th quarter valued at about $86,185,000. Impax Asset Management Group plc lifted its holdings in shares of Advanced Drainage Systems by 34.6% in the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company’s stock valued at $291,723,000 after purchasing an additional 650,052 shares in the last quarter. First Trust Advisors LP grew its position in shares of Advanced Drainage Systems by 45.8% in the fourth quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company’s stock valued at $200,315,000 after purchasing an additional 544,109 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Advanced Drainage Systems during the 4th quarter worth approximately $46,997,000. Finally, Amundi raised its position in shares of Advanced Drainage Systems by 72.2% during the 4th quarter. Amundi now owns 854,764 shares of the construction company’s stock worth $98,678,000 after purchasing an additional 358,271 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

WMS has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. KeyCorp decreased their price objective on Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Loop Capital cut their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 target price on the stock. Finally, StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and an average target price of $149.25.

Advanced Drainage Systems Trading Down 2.9%

NYSE WMS opened at $118.21 on Friday. The company has a market cap of $9.17 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems, Inc. has a 12 month low of $93.92 and a 12 month high of $184.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. The company has a 50-day moving average of $109.45 and a 200-day moving average of $119.74.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.18 per share. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 0.61%. Advanced Drainage Systems’s dividend 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.