Assenagon Asset Management S.A. Sells 94,867 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Assenagon Asset Management S.A. reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 98.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,897 shares of the construction company’s stock after selling 94,867 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Advanced Drainage Systems were worth $206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Advanced Drainage Systems by 5.6% in 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 purchasing an additional 31,510 shares during the last quarter. Vident Advisory LLC grew its stake in Advanced Drainage Systems by 23.0% in the fourth quarter. Vident Advisory LLC now owns 1,907 shares of the construction company’s stock valued at $220,000 after purchasing an additional 356 shares during the last quarter. Two Sigma Investments LP purchased a new position in Advanced Drainage Systems in the fourth quarter valued at about $535,000. Bank of New York Mellon Corp grew its stake in Advanced Drainage Systems by 2.2% in the fourth quarter. Bank of New York Mellon Corp now owns 591,552 shares of the construction company’s stock valued at $68,383,000 after purchasing an additional 12,823 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Advanced Drainage Systems in the fourth quarter valued at about $2,025,000. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $114.12 on Friday. The firm’s fifty day moving average price is $112.80 and its 200 day moving average price is $115.16. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.10. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.06). The business had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. Advanced Drainage Systems’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS. On average, sell-side analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.16. Advanced Drainage Systems’s dividend payout ratio is currently 12.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WMS shares. Loop Capital dropped their price target on Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 price objective on the stock. KeyCorp dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Robert W. Baird dropped their price objective on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

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.