Peregrine Capital Management LLC Reduces Holdings in Advanced Drainage Systems, Inc. $WMS

Peregrine Capital Management LLC trimmed its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 14.6% in the 1st quarter, HoldingsChannel reports. The firm owned 82,628 shares of the construction company’s stock after selling 14,092 shares during the quarter. Peregrine Capital Management LLC’s holdings in Advanced Drainage Systems were worth $11,331,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WMS. Norges Bank purchased a new position in shares of Advanced Drainage Systems during the fourth quarter valued at about $156,587,000. Wellington Management Group LLP lifted its holdings in Advanced Drainage Systems by 234.0% in the third quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after buying an additional 832,929 shares during the period. Amundi lifted its holdings in Advanced Drainage Systems by 80.9% in the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock worth $185,324,000 after buying an additional 572,193 shares during the period. Pictet Asset Management Holding SA boosted its position in Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after acquiring an additional 546,298 shares in the last quarter. Finally, Interval Partners LP boosted its position in Advanced Drainage Systems by 98.0% during the 3rd quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock valued at $134,336,000 after acquiring an additional 479,413 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $157.07 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92. The stock has a market cap of $12.04 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.66 and a beta of 1.29. The business’s 50 day moving average price is $141.99 and its 200-day moving average price is $148.80. Advanced Drainage Systems, Inc. has a 52 week low of $109.63 and a 52 week high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The company had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. Equities research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 1st. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is 14.71%.

Analyst Upgrades and Downgrades

WMS has been the subject of several research reports. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. UBS Group dropped their price target on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group started coverage on Advanced Drainage Systems in a research note on Thursday, June 11th. They issued a “buy” rating and a $175.00 price target on the stock. Royal Bank Of Canada increased their price objective on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Advanced Drainage Systems Company Profile

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.