Thematics Asset Management Trims Stock Position in Advanced Drainage Systems, Inc. $WMS

Thematics Asset Management trimmed its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 145,500 shares of the construction company’s stock after selling 5,000 shares during the period. Thematics Asset Management’s holdings in Advanced Drainage Systems were worth $20,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Advanced Drainage Systems by 234.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock valued at $164,901,000 after acquiring an additional 832,929 shares during the last quarter. Norges Bank acquired a new stake in shares of Advanced Drainage Systems in the second quarter worth approximately $90,989,000. SG Capital Management LLC purchased a new stake in Advanced Drainage Systems in the third quarter valued at approximately $45,591,000. Franklin Resources Inc. grew its holdings in Advanced Drainage Systems by 586.9% in the third quarter. Franklin Resources Inc. now owns 285,810 shares of the construction company’s stock valued at $39,642,000 after purchasing an additional 244,202 shares during the period. Finally, Capital International Investors increased its position in Advanced Drainage Systems by 34.9% during the third quarter. Capital International Investors now owns 933,851 shares of the construction company’s stock worth $129,525,000 after purchasing an additional 241,500 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $137.24 on Friday. The firm has a fifty day moving average of $159.81 and a two-hundred day moving average of $149.78. The firm has a market cap of $10.69 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.64 and a beta of 1.27. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. During the same quarter in the prior year, the business posted $1.09 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.18 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.72 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 11.98%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Advanced Drainage Systems from $180.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, January 21st. Oppenheimer lifted their target price on Advanced Drainage Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, February 9th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Royal Bank Of Canada raised their price objective on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average price target of $186.00.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.