Absher Wealth Management LLC Has $1.77 Million Position in Advanced Drainage Systems, Inc. $WMS

Absher Wealth Management LLC lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 24.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,245 shares of the construction company’s stock after selling 3,953 shares during the quarter. Absher Wealth Management LLC’s holdings in Advanced Drainage Systems were worth $1,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bridges Investment Management Inc. increased its stake in shares of Advanced Drainage Systems by 32.9% in the 3rd quarter. Bridges Investment Management Inc. now owns 28,122 shares of the construction company’s stock valued at $3,901,000 after acquiring an additional 6,960 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Advanced Drainage Systems during the 3rd quarter worth approximately $24,314,000. Essex Investment Management Co. LLC grew its holdings in Advanced Drainage Systems by 345.7% during the third quarter. Essex Investment Management Co. LLC now owns 42,898 shares of the construction company’s stock valued at $5,950,000 after purchasing an additional 33,274 shares during the period. Pacer Advisors Inc. acquired a new position in Advanced Drainage Systems during the third quarter valued at approximately $1,321,000. Finally, Asset Management One Co. Ltd. increased its stake in Advanced Drainage Systems by 29.7% in the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock valued at $2,772,000 after purchasing an additional 4,574 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Price Performance

WMS stock opened at $153.16 on Friday. The stock has a 50-day moving average price of $150.51 and a two-hundred day moving average price of $149.79. Advanced Drainage Systems, Inc. has a 1 year low of $104.69 and a 1 year high of $179.32. The stock has a market cap of $11.93 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.37. The company has a current ratio of 4.12, a quick ratio of 3.08 and a debt-to-equity ratio of 0.72.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.16. The company had revenue of $693.35 million for the quarter, compared to analyst estimates of $686.37 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. Equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.19 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio is 11.98%.

Wall Street Analysts Forecast Growth

WMS has been the topic of several analyst reports. KeyCorp increased their target price on shares of Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Royal Bank Of Canada boosted their price target on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, February 6th. UBS Group set a $215.00 price objective on shares of Advanced Drainage Systems and gave the company a “buy” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Monday. Finally, Robert W. Baird set a $205.00 target price on Advanced Drainage Systems in a research note on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.29.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.