Skandinaviska Enskilda Banken AB publ Buys 31,734 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Skandinaviska Enskilda Banken AB publ grew its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 214.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,553 shares of the construction company’s stock after acquiring an additional 31,734 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.06% of Advanced Drainage Systems worth $7,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Advanced Drainage Systems during the 4th quarter valued at about $88,640,000. UBS Group AG increased its position in shares of Advanced Drainage Systems by 18.9% during the fourth quarter. UBS Group AG now owns 71,013 shares of the construction company’s stock valued at $9,987,000 after acquiring an additional 11,305 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Advanced Drainage Systems by 3.3% in the 4th quarter. Hsbc Holdings PLC now owns 119,859 shares of the construction company’s stock worth $16,915,000 after acquiring an additional 3,800 shares during the last quarter. Chesapeake Capital Corp IL purchased a new position in Advanced Drainage Systems in the 4th quarter worth approximately $993,000. Finally, Stifel Financial Corp boosted its stake in Advanced Drainage Systems by 3.4% during the 4th quarter. Stifel Financial Corp now owns 360,660 shares of the construction company’s stock valued at $50,724,000 after purchasing an additional 11,720 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Advanced Drainage Systems Stock Down 2.0 %

WMS opened at $152.45 on Friday. The firm’s 50 day simple moving average is $156.10 and its two-hundred day simple moving average is $162.61. The company has a market capitalization of $11.82 billion, a PE ratio of 23.67, a PEG ratio of 1.26 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04.

Advanced Drainage Systems (NYSE:WMS) last announced 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 analysts’ expectations of $828.00 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. As a group, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. 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 0.42%. Advanced Drainage Systems’s payout ratio is currently 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.