Stratos Wealth Partners LTD. Cuts Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Stratos Wealth Partners LTD. reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 25.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,398 shares of the construction company’s stock after selling 1,186 shares during the period. Stratos Wealth Partners LTD.’s holdings in Advanced Drainage Systems were worth $369,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $1,981,000. Raymond James Financial Inc. bought a new position in Advanced Drainage Systems in the 4th quarter worth approximately $2,025,000. Swiss National Bank grew its holdings in Advanced Drainage Systems by 6.3% in the 4th quarter. Swiss National Bank now owns 144,900 shares of the construction company’s stock worth $16,750,000 after buying an additional 8,600 shares in the last quarter. Vestcor Inc acquired a new stake in Advanced Drainage Systems in the fourth quarter worth approximately $247,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Advanced Drainage Systems by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,071 shares of the construction company’s stock worth $1,049,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $113.50 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.10. Advanced Drainage Systems, Inc. has a 1-year low of $93.92 and a 1-year high of $179.57. The company has a market capitalization of $8.81 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.69 and a beta of 1.24. The firm’s 50 day simple moving average is $115.72 and its two-hundred day simple moving average is $114.54.

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 the consensus estimate of $1.09 by ($0.06). Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. The company had revenue of $615.76 million during the quarter, compared to analysts’ expectations of $653.22 million. During the same period last year, the firm posted $1.23 EPS. Advanced Drainage Systems’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp lowered their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Oppenheimer reduced their price objective on shares of Advanced Drainage Systems from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Barclays raised their price objective on shares of Advanced Drainage Systems from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, Loop Capital lowered their price target on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating for the company in a research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.