Ameritas Investment Partners Inc. Decreases Stake in Advanced Drainage Systems, Inc. (NYSE:WMS)

Ameritas Investment Partners Inc. cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,492 shares of the construction company’s stock after selling 570 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Advanced Drainage Systems were worth $2,324,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Swedbank AB acquired a new stake in Advanced Drainage Systems during the 1st quarter worth about $220,853,000. Norges Bank purchased a new position in Advanced Drainage Systems during the 4th quarter worth approximately $88,640,000. Vanguard Group Inc. raised its position in Advanced Drainage Systems by 5.8% during the 1st 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 last quarter. Wellington Management Group LLP lifted its stake in Advanced Drainage Systems by 107.4% during the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after acquiring an additional 293,924 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Advanced Drainage Systems by 78.5% in the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock valued at $92,750,000 after acquiring an additional 289,925 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $192.00 target price 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 for the company in a report on Friday, August 9th. Robert W. Baird lowered their target price 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. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Loop Capital lowered their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $152.45 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. Advanced Drainage Systems, Inc. has a 12-month low of $102.32 and a 12-month high of $184.27. The business’s 50 day moving average is $156.10 and its two-hundred day moving average is $162.61. The company has a market capitalization of $11.82 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.26 and a beta of 1.53.

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. 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%. Analysts expect that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

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

Advanced Drainage Systems Company 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.