Kingsview Wealth Management LLC Purchases New Shares in Advanced Drainage Systems, Inc. $WMS

Kingsview Wealth Management LLC bought a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,529 shares of the construction company’s stock, valued at approximately $1,339,000.

A number of other institutional investors have also recently added to or reduced their stakes in WMS. Allworth Financial LP purchased a new stake in Advanced Drainage Systems during the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. raised its stake in Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing an additional 176 shares during the period. SJS Investment Consulting Inc. raised its position in shares of Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after buying an additional 107 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advanced Drainage Systems in the 3rd quarter valued at $36,000. Finally, Kestra Advisory Services LLC purchased a new position in Advanced Drainage Systems during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

WMS has been the subject of a number of research reports. Robert W. Baird set a $206.00 price objective on Advanced Drainage Systems in a research note on Friday, August 7th. Zacks Research upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Royal Bank Of Canada increased their target price on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. DA Davidson assumed coverage on shares of Advanced Drainage Systems in a research report on Tuesday, August 25th. They issued a “buy” rating and a $190.00 price target for the company. Finally, Barclays boosted their price target on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.70.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $137.11 on Friday. Advanced Drainage Systems, Inc. has a 1 year low of $128.03 and a 1 year high of $179.32. The stock has a market capitalization of $10.34 billion, a PE ratio of 23.68, a PEG ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The stock has a 50-day simple moving average of $145.99 and a 200-day simple moving average of $146.47.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.39. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 earnings per share. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is currently 13.82%.

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.