ProShare Advisors LLC Cuts Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

ProShare Advisors LLC reduced its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,213 shares of the construction company’s stock after selling 120 shares during the period. ProShare Advisors LLC’s holdings in Advanced Drainage Systems were worth $515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WMS. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after buying an additional 115 shares during the period. West Oak Capital LLC grew its holdings in shares of Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. increased its stake in Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. Rise Advisors LLC acquired a new position in Advanced Drainage Systems during the first quarter worth $32,000. Finally, National Bank of Canada FI acquired a new stake in Advanced Drainage Systems in the second quarter valued at $45,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Loop Capital cut their price target on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Oppenheimer reissued an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Barclays lowered their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Trading Down 2.0 %

Shares of Advanced Drainage Systems stock opened at $157.08 on Tuesday. The firm has a market cap of $12.18 billion, a PE ratio of 24.39, a P/E/G ratio of 1.36 and a beta of 1.53. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems, Inc. has a fifty-two week low of $102.32 and a fifty-two week high of $184.27. The business’s fifty day moving average is $154.34 and its two-hundred day moving average is $162.31.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.98 by $0.08. The company had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. Analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.