Point72 Asia Singapore Pte. Ltd. Makes New Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,716 shares of the construction company’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WMS. Swedbank AB bought a new stake in shares of Advanced Drainage Systems during the first quarter valued at about $220,853,000. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 395,099 shares during the period. Wellington Management Group LLP increased its stake in shares of Advanced Drainage Systems by 107.4% in the fourth quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock worth $79,814,000 after acquiring an additional 293,924 shares during the last quarter. Boston Partners grew its stake in shares of Advanced Drainage Systems by 16.9% in the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after buying an additional 219,629 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Advanced Drainage Systems by 136.2% in the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after acquiring an additional 180,154 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Trading Down 0.7 %

Shares of WMS stock opened at $156.00 on Wednesday. The company has a market capitalization of $12.09 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.36 and a beta of 1.53. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. The firm has a 50 day moving average price of $154.04 and a two-hundred day moving average price of $162.26.

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

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

WMS has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays dropped their target price on 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. Robert W. Baird cut their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Loop Capital reduced 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 note on Monday, August 12th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.