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

Cerity Partners LLC cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 59.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,787 shares of the construction company’s stock after selling 18,615 shares during the period. Cerity Partners LLC’s holdings in Advanced Drainage Systems were worth $1,389,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. NBC Securities Inc. purchased a new stake in Advanced Drainage Systems in the 1st quarter valued at about $26,000. Bessemer Group Inc. boosted its position in Advanced Drainage Systems by 76.2% in the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company’s stock valued at $29,000 after buying an additional 115 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at about $74,000. GAMMA Investing LLC boosted its position in Advanced Drainage Systems by 167.1% in the 1st quarter. GAMMA Investing LLC now owns 812 shares of the construction company’s stock valued at $88,000 after buying an additional 508 shares during the period. Finally, Headlands Technologies LLC boosted its position 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 valued at $118,000 after buying an additional 948 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on WMS shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They set a “buy” rating and a $134.00 price objective for the company. UBS Group cut their price target on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Loop Capital cut their price target on shares of 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. KeyCorp cut their price target 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. Finally, Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and an average target price of $139.88.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $110.81 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.10 and a current ratio of 3.33. The stock 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’s fifty day moving average is $115.57 and its two-hundred day moving average is $114.46. Advanced Drainage Systems, Inc. has a 1 year low of $93.92 and a 1 year high of $179.57.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.06). The business had revenue of $615.76 million during the quarter, compared to analysts’ expectations of $653.22 million. Advanced Drainage Systems had a return on equity of 32.33% and a net margin of 15.50%. Advanced Drainage Systems’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share 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 0.65%. 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%.

Advanced Drainage Systems Company Profile

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.