Creative Planning Grows Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Creative Planning raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 149.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,710 shares of the construction company’s stock after acquiring an additional 7,009 shares during the period. Creative Planning’s holdings in Advanced Drainage Systems were worth $1,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after acquiring an additional 162 shares in the last quarter. West Oak Capital LLC raised its holdings 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 valued at $28,000 after acquiring an additional 100 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at about $45,000. Finally, Tobam purchased a new position in shares of Advanced Drainage Systems during the 1st quarter valued at about $56,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WMS shares. Oppenheimer reissued an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Barclays decreased their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Loop Capital decreased their price objective 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. Finally, Robert W. Baird decreased their price objective 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus target price of $190.14.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $150.53 on Tuesday. The firm has a market cap of $11.67 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.27 and a beta of 1.53. Advanced Drainage Systems, Inc. has a fifty-two week low of $104.16 and a fifty-two week high of $184.27. The business’s 50 day moving average price is $152.62 and its 200-day moving average price is $160.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89.

Advanced Drainage Systems (NYSE:WMS) last issued 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 for 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, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. Advanced Drainage Systems’s dividend payout ratio is currently 10.13%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.