Cerity Partners LLC Sells 18,615 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Cerity Partners LLC cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 59.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,787 shares of the construction company’s stock after selling 18,615 shares during the quarter. Cerity Partners LLC’s holdings in Advanced Drainage Systems were worth $1,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of Advanced Drainage Systems in the first quarter worth about $26,000. Bessemer Group Inc. increased its stake in Advanced Drainage Systems by 76.2% in the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company’s stock worth $29,000 after acquiring an additional 115 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Advanced Drainage Systems in the 4th quarter worth approximately $74,000. GAMMA Investing LLC increased its stake in Advanced Drainage Systems by 167.1% in the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company’s stock worth $88,000 after acquiring an additional 508 shares during the last quarter. Finally, Headlands Technologies LLC increased its stake in Advanced Drainage Systems by 1,298.6% in the 4th quarter. Headlands Technologies LLC now owns 1,021 shares of the construction company’s stock worth $118,000 after acquiring an additional 948 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WMS. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price objective for the company. Wall Street Zen upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Friday. Loop Capital dropped their price objective on Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating for the company in a report on Friday, May 16th. UBS Group dropped their price objective on Advanced Drainage Systems from $155.00 to $146.00 and set a “buy” rating for the company in a report on Friday, May 16th. Finally, Robert W. Baird dropped their price objective on Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $110.81 on Tuesday. The business’s 50 day moving average is $115.57 and its two-hundred day moving average is $114.46. Advanced Drainage Systems, Inc. has a 12-month low of $93.92 and a 12-month high of $179.57. The company has a market capitalization of $8.60 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.62 and a beta of 1.24. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly 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 net margin of 15.50% and a return on equity of 32.33%. The company had revenue of $615.76 million during the quarter, compared to analyst estimates of $653.22 million. During the same period in the prior year, the business posted $1.23 EPS. Advanced Drainage Systems’s revenue for the quarter was down 5.8% compared to the same quarter last year. Analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid 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 annualized dividend and a yield of 0.65%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 12.50%.

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.