1832 Asset Management L.P. Sells 40,376 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

1832 Asset Management L.P. decreased its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 28.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,443 shares of the construction company’s stock after selling 40,376 shares during the period. 1832 Asset Management L.P. owned about 0.13% of Advanced Drainage Systems worth $16,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WMS. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Advanced Drainage Systems by 319.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. increased its position in Advanced Drainage Systems by 1,472.7% during the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after acquiring an additional 162 shares during the last quarter. West Oak Capital LLC lifted its holdings in 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 acquiring an additional 100 shares during the period. Rise Advisors LLC purchased a new position in Advanced Drainage Systems in the first quarter worth about $32,000. Finally, GAMMA Investing LLC grew its stake in shares of Advanced Drainage Systems by 29.4% during the 1st quarter. GAMMA Investing LLC now owns 273 shares of the construction company’s stock valued at $47,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WMS. Robert W. Baird dropped their price objective 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. Barclays cut 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 report on Friday, August 9th. Loop Capital decreased their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Oppenheimer reissued an “outperform” rating and set a $192.00 price target on shares of Advanced Drainage Systems in a report on Thursday, August 15th. 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 issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.14.

Advanced Drainage Systems Trading Up 0.9 %

Shares of Advanced Drainage Systems stock opened at $153.82 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. The company has a fifty day moving average of $155.87 and a 200 day moving average of $162.52. The company has a market capitalization of $11.92 billion, a P/E ratio of 23.89, a P/E/G ratio of 1.26 and a beta of 1.53. Advanced Drainage Systems, Inc. has a fifty-two week low of $102.32 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. The firm had revenue of $815.34 million during the quarter, compared to analyst estimates of $828.00 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, August 30th. 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.