Renaissance Technologies LLC Boosts Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Renaissance Technologies LLC grew its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 122.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,500 shares of the construction company’s stock after acquiring an additional 49,200 shares during the quarter. Renaissance Technologies LLC owned about 0.12% of Advanced Drainage Systems worth $14,355,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. increased its holdings in shares of Advanced Drainage Systems by 1,472.7% during the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after buying an additional 162 shares during the last quarter. West Oak Capital LLC raised its position in shares of Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares during the period. Rise Advisors LLC purchased a new position in shares of Advanced Drainage Systems in the 1st quarter worth $32,000. Finally, GAMMA Investing LLC boosted its holdings in Advanced Drainage Systems by 29.4% in the first quarter. GAMMA Investing LLC now owns 273 shares of the construction company’s stock valued at $47,000 after acquiring an additional 62 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $152.45 on Monday. The firm has a 50-day moving average of $156.10 and a two-hundred day moving average of $162.60. 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 stock has a market cap of $11.82 billion, a P/E 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.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 43.60% and a net margin of 17.09%. On average, research analysts expect that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Loop Capital dropped their target price on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays decreased their price objective 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. Oppenheimer reissued an “outperform” rating and issued a $192.00 target price on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Finally, Robert W. Baird reduced their target price on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target 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.