Farther Finance Advisors LLC Cuts Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Farther Finance Advisors LLC trimmed its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 57.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220 shares of the construction company’s stock after selling 295 shares during the period. Farther Finance Advisors LLC’s holdings in Advanced Drainage Systems were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC grew its position in shares of Advanced Drainage Systems by 18.1% in the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock worth $87,000 after acquiring an additional 85 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Advanced Drainage Systems by 10.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $164,000 after buying an additional 95 shares in the last quarter. West Oak Capital LLC lifted its holdings in shares of Advanced Drainage Systems by 133.3% during the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Advanced Drainage Systems by 319.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Advanced Drainage Systems by 20.5% in the third quarter. UMB Bank n.a. now owns 693 shares of the construction company’s stock worth $109,000 after buying an additional 118 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on WMS. Robert W. Baird lowered their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays lowered their price objective on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Monday. Loop Capital lowered their price objective on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday. KeyCorp lowered their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Stephens reaffirmed an “equal weight” rating and set a $135.00 price objective (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $130.31 on Friday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average price is $150.43 and its two-hundred day moving average price is $158.96. Advanced Drainage Systems, Inc. has a 1 year low of $116.98 and a 1 year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The business had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.71 EPS. As a group, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.16 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

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.