243,190 Shares in Advanced Drainage Systems, Inc. $WMS Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, HoldingsChannel reports. The fund bought 243,190 shares of the construction company’s stock, valued at approximately $38,171,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares during the period. Allworth Financial LP bought a new position in Advanced Drainage Systems during the second quarter valued at approximately $26,000. SJS Investment Consulting Inc. boosted its holdings in Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Advanced Drainage Systems in the third quarter worth approximately $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in Advanced Drainage Systems in the fourth quarter worth approximately $37,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $137.11 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems, Inc. has a 12 month low of $128.03 and a 12 month high of $179.32. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.52 and a beta of 1.27. The company’s 50 day moving average is $145.99 and its two-hundred day moving average is $146.47.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.39. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The company’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share. As a group, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is currently 13.82%.

Analysts Set New Price Targets

WMS has been the subject of a number of research reports. Oppenheimer decreased their target price on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. UBS Group increased their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a report on Friday, August 7th. Zacks Research upgraded Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, DA Davidson assumed coverage on shares of Advanced Drainage Systems in a research report on Tuesday. They set a “buy” rating and a $190.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.