Envestnet Asset Management Inc. Purchases 308 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Envestnet Asset Management Inc. grew its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,540 shares of the construction company’s stock after buying an additional 308 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Advanced Drainage Systems worth $7,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Advanced Drainage Systems by 50.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock valued at $11,186,000 after purchasing an additional 32,418 shares during the last quarter. KBC Group NV lifted its holdings in shares of Advanced Drainage Systems by 21.2% during the fourth quarter. KBC Group NV now owns 738,749 shares of the construction company’s stock valued at $85,399,000 after purchasing an additional 129,252 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Advanced Drainage Systems by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,562 shares of the construction company’s stock valued at $68,616,000 after buying an additional 31,510 shares during the last quarter. D.B. Root & Company LLC increased its holdings in Advanced Drainage Systems by 64.9% in the 4th quarter. D.B. Root & Company LLC now owns 5,658 shares of the construction company’s stock worth $654,000 after buying an additional 2,227 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Advanced Drainage Systems by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 163,910 shares of the construction company’s stock worth $18,948,000 after buying an additional 20,146 shares during the last quarter. Institutional investors own 89.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WMS. StockNews.com lowered shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 1st. KeyCorp cut their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Barclays lowered their price target on Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Stephens reaffirmed an “equal weight” rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Finally, UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems presently has a consensus rating of “Moderate Buy” and an average price target of $153.78.

Advanced Drainage Systems Stock Up 0.8 %

WMS stock opened at $104.44 on Monday. The business’s 50-day moving average price is $110.63 and its 200-day moving average price is $124.54. The stock has a market cap of $8.10 billion, a P/E ratio of 17.46, a PEG ratio of 1.13 and a beta of 1.48. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a twelve month low of $93.92 and a twelve month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. Advanced Drainage Systems’s payout ratio is 10.70%.

About Advanced Drainage Systems

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.