Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,671 shares of the construction company’s stock after selling 7,323 shares during the period. Amalgamated Bank’s holdings in Advanced Drainage Systems were worth $5,561,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Advanced Drainage Systems during the fourth quarter valued at $88,640,000. UBS Group AG lifted its position in Advanced Drainage Systems by 18.9% in the 4th quarter. UBS Group AG now owns 71,013 shares of the construction company’s stock valued at $9,987,000 after purchasing an additional 11,305 shares during the last quarter. Quest Partners LLC acquired a new position in Advanced Drainage Systems during the 4th quarter valued at about $493,000. Dai ichi Life Insurance Company Ltd increased its stake in shares of Advanced Drainage Systems by 109.6% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 11,780 shares of the construction company’s stock valued at $1,657,000 after purchasing an additional 6,160 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at approximately $2,182,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Loop Capital decreased their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Robert W. Baird decreased their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note 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 on the stock in a research note on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and issued a $192.00 target price on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. Finally, StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.14.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $152.37 on Friday. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.26 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. The company has a 50-day moving average of $156.33 and a 200-day moving average of $162.69.

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 the consensus estimate of $1.98 by $0.08. The business 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%. Analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

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

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.