JPMorgan Chase & Co. Decreases Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

JPMorgan Chase & Co. lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,450 shares of the construction company’s stock after selling 8,722 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of Advanced Drainage Systems worth $39,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in Advanced Drainage Systems by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock valued at $357,000 after acquiring an additional 79 shares during the period. CWM LLC increased its position in shares of Advanced Drainage Systems by 18.1% during the third quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after buying an additional 85 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of Advanced Drainage Systems by 4.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock worth $379,000 after buying an additional 111 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Advanced Drainage Systems by 20.5% in the 3rd quarter. UMB Bank n.a. now owns 693 shares of the construction company’s stock worth $109,000 after purchasing an additional 118 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Advanced Drainage Systems by 8.8% in the third quarter. QRG Capital Management Inc. now owns 1,638 shares of the construction company’s stock worth $257,000 after purchasing an additional 132 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Up 1.0 %

Shares of Advanced Drainage Systems stock opened at $115.47 on Monday. The firm’s 50-day moving average is $131.04 and its two-hundred day moving average is $147.38. Advanced Drainage Systems, Inc. has a 1 year low of $113.10 and a 1 year high of $184.27. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.22 and a beta of 1.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). The company had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business posted $1.71 EPS. As a group, research analysts expect that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Wall Street Analyst Weigh In

WMS has been the topic of several recent research reports. Oppenheimer decreased their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Barclays dropped their price objective on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. KeyCorp decreased their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Stephens restated an “equal weight” rating and issued a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Finally, Loop Capital decreased their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.29.

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.