Wright Investors Service Inc. Invests $861,000 in Advanced Drainage Systems, Inc. (NYSE:WMS)

Wright Investors Service Inc. bought a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,480 shares of the construction company’s stock, valued at approximately $861,000.

Several other hedge funds also recently modified their holdings of the stock. Anchor Investment Management LLC grew its holdings in shares of Advanced Drainage Systems by 16.0% in the second quarter. Anchor Investment Management LLC now owns 1,526 shares of the construction company’s stock valued at $245,000 after acquiring an additional 210 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Advanced Drainage Systems during the second quarter valued at about $275,000. Teachers Retirement System of The State of Kentucky increased its holdings in Advanced Drainage Systems by 5.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 22,440 shares of the construction company’s stock worth $3,599,000 after buying an additional 1,123 shares during the last quarter. Cetera Investment Advisers raised its position in Advanced Drainage Systems by 4.8% in the second quarter. Cetera Investment Advisers now owns 15,945 shares of the construction company’s stock worth $2,558,000 after acquiring an additional 729 shares during the period. Finally, Truist Financial Corp raised its position in Advanced Drainage Systems by 14.5% in the second quarter. Truist Financial Corp now owns 2,095 shares of the construction company’s stock worth $336,000 after acquiring an additional 266 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS traded up $0.63 on Friday, hitting $155.48. The company’s stock had a trading volume of 552,391 shares, compared to its average volume of 501,202. The company has a market capitalization of $12.05 billion, a PE ratio of 24.14, a PEG ratio of 1.32 and a beta of 1.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The company has a 50-day simple moving average of $153.25 and a 200 day simple moving average of $162.12. Advanced Drainage Systems, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results 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. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $815.34 million for the quarter, compared to the consensus estimate of $828.00 million. Sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current fiscal 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 issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.41%. Advanced Drainage Systems’s payout ratio is 9.94%.

Analyst Ratings Changes

WMS has been the subject of several research analyst reports. Barclays decreased their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Oppenheimer reiterated an “outperform” rating and set a $192.00 price target on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Robert W. Baird dropped their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Loop Capital dropped their price target 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. Finally, StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average price target of $190.14.

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.