Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 107.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,337 shares of the construction company’s stock after acquiring an additional 3,288 shares during the quarter. Magnetar Financial LLC’s holdings in Advanced Drainage Systems were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Advanced Drainage Systems by 24.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock worth $11,006,000 after acquiring an additional 12,655 shares in the last quarter. Nordea Investment Management AB lifted its position in Advanced Drainage Systems by 10.3% in the first quarter. Nordea Investment Management AB now owns 121,851 shares of the construction company’s stock worth $21,178,000 after purchasing an additional 11,423 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Advanced Drainage Systems by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock worth $24,059,000 after purchasing an additional 19,626 shares during the period. Vanguard Group Inc. lifted its position in Advanced Drainage Systems by 5.8% in the first 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 during the period. Finally, Perpetual Ltd lifted its position in shares of Advanced Drainage Systems by 9.6% during the 1st quarter. Perpetual Ltd now owns 55,575 shares of the construction company’s stock valued at $9,572,000 after acquiring an additional 4,889 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Down 0.4 %

WMS stock opened at $153.23 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $155.36 and its 200 day simple moving average is $162.46. The company has a market cap of $11.88 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.53. Advanced Drainage Systems, Inc. has a twelve month low of $102.32 and a twelve month 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, beating 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 return on equity of 43.60% and a net margin of 17.09%. On average, research 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 announced 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 currently 9.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WMS. Loop Capital cut their price objective on 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 dropped 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 note on Friday, August 9th. Robert W. Baird cut their target price 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. Oppenheimer restated an “outperform” rating and set a $192.00 target price 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 report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.14.

About Advanced Drainage Systems

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.