Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,382,735 shares of the construction company’s stock after purchasing an additional 7,690 shares during the quarter. Advanced Drainage Systems makes up 0.4% of Thrivent Financial for Lutherans’ holdings, making the stock its 27th biggest position. Thrivent Financial for Lutherans owned about 1.78% of Advanced Drainage Systems worth $221,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of WMS. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after purchasing an additional 115 shares during the period. West Oak Capital LLC grew its position in shares of Advanced Drainage Systems by 133.3% in the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. grew its position in shares of Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after purchasing an additional 162 shares during the period. Rise Advisors LLC acquired a new stake in shares of Advanced Drainage Systems in the first quarter valued at about $32,000. Finally, National Bank of Canada FI acquired a new stake in shares of Advanced Drainage Systems in the second quarter valued at about $45,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WMS. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays lowered 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 research report on Friday, August 9th. Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Oppenheimer restated an “outperform” rating and set a $192.00 price target on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. Finally, Loop Capital lowered their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $152.37 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The firm’s 50-day moving average is $156.33 and its two-hundred day moving average is $162.69. Advanced Drainage Systems, Inc. has a 12 month low of $102.32 and a 12 month high of $184.27. The company has a market capitalization of $11.81 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53.

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

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 9.94%.

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.