Truist Financial Corp Acquires 266 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Truist Financial Corp raised its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,095 shares of the construction company’s stock after acquiring an additional 266 shares during the quarter. Truist Financial Corp’s holdings in Advanced Drainage Systems were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Advanced Drainage Systems in the 2nd quarter valued at about $21,657,000. Quarry LP grew its holdings in Advanced Drainage Systems by 303.9% in the second quarter. Quarry LP now owns 1,143 shares of the construction company’s stock worth $183,000 after purchasing an additional 860 shares during the last quarter. Creative Planning increased its position in shares of Advanced Drainage Systems by 9.3% during the second quarter. Creative Planning now owns 4,701 shares of the construction company’s stock worth $754,000 after purchasing an additional 401 shares in the last quarter. Algert Global LLC increased its position in shares of Advanced Drainage Systems by 18.0% during the second quarter. Algert Global LLC now owns 60,444 shares of the construction company’s stock worth $9,695,000 after purchasing an additional 9,217 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at $1,331,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Performance

WMS opened at $157.41 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 firm has a 50 day moving average of $152.11 and a two-hundred day moving average of $161.00. The firm has a market capitalization of $12.20 billion, a PE ratio of 24.44, a P/E/G ratio of 1.31 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. On average, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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 $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 0.41%. Advanced Drainage Systems’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

WMS has been the topic of several research analyst reports. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird cut 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. Oppenheimer reiterated an “outperform” rating and issued a $192.00 target price on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Loop Capital cut 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, Barclays lowered their price objective 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems currently 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 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.