Swedbank AB Decreases Stake in Advanced Drainage Systems, Inc. $WMS

Swedbank AB lessened its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 21.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,961 shares of the construction company’s stock after selling 45,839 shares during the period. Swedbank AB’s holdings in Advanced Drainage Systems were worth $22,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WMS. Norges Bank purchased a new stake in shares of Advanced Drainage Systems during the 4th quarter worth $156,587,000. Wellington Management Group LLP increased its holdings in shares of Advanced Drainage Systems by 234.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock valued at $164,901,000 after purchasing an additional 832,929 shares in the last quarter. Amundi lifted its stake in shares of Advanced Drainage Systems by 80.9% in the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after purchasing an additional 572,193 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Advanced Drainage Systems by 32.9% in the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after purchasing an additional 546,298 shares during the period. Finally, Interval Partners LP boosted its holdings in Advanced Drainage Systems by 98.0% during the third quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock worth $134,336,000 after buying an additional 479,413 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Up 2.1%

Shares of WMS stock opened at $148.13 on Friday. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.56 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $141.58 and a 200 day moving average price of $148.89. Advanced Drainage Systems, Inc. has a twelve month low of $109.63 and a twelve month high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The company had revenue of $676.76 million for the quarter, compared to analysts’ expectations of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.20 dividend. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. This represents a $0.80 annualized dividend and a yield of 0.5%. Advanced Drainage Systems’s payout ratio is presently 14.71%.

Analysts Set New Price Targets

WMS has been the subject of a number of research analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Jefferies Financial Group began coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective for the company. Oppenheimer lowered their target price on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. Finally, UBS Group decreased their price objective on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and an average price target of $185.75.

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.