Citizens Financial Group Inc. RI Takes Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Citizens Financial Group Inc. RI bought a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,606 shares of the construction company’s stock, valued at approximately $258,000.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Advanced Drainage Systems in the first quarter worth about $220,853,000. Norges Bank purchased a new position in shares of Advanced Drainage Systems in the 4th quarter valued at approximately $88,640,000. Vanguard Group Inc. boosted its stake in Advanced Drainage Systems by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. Wellington Management Group LLP grew its position in Advanced Drainage Systems by 107.4% during the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock worth $79,814,000 after purchasing an additional 293,924 shares during the last quarter. Finally, KBC Group NV grew its position in Advanced Drainage Systems by 78.5% during the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock worth $92,750,000 after purchasing an additional 289,925 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Down 0.4 %

Advanced Drainage Systems stock opened at $149.22 on Thursday. Advanced Drainage Systems, Inc. has a 52 week low of $102.32 and a 52 week high of $184.27. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. The business’s 50-day moving average price is $156.63 and its 200 day moving average price is $162.84. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $815.34 million for the quarter, compared to analysts’ expectations of $828.00 million. As a group, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

WMS has been the subject of several research reports. Loop Capital lowered their price objective on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Oppenheimer reiterated an “outperform” rating and set a $192.00 price target on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Barclays cut their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.