Bank of New York Mellon Corp Has $71.20 Million Holdings in Advanced Drainage Systems, Inc. $WMS

Bank of New York Mellon Corp increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 5.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 519,242 shares of the construction company’s stock after purchasing an additional 29,037 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Advanced Drainage Systems worth $71,204,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WMS. Northwestern Mutual Wealth Management Co. increased its holdings in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after buying an additional 176 shares during the period. SJS Investment Consulting Inc. boosted its position in shares of Advanced Drainage Systems by 78.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after acquiring an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new position in Advanced Drainage Systems in the fourth quarter valued at approximately $37,000. Finally, Los Angeles Capital Management LLC bought a new position in Advanced Drainage Systems in the fourth quarter valued at approximately $42,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WMS. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $190.00 to $175.00 in a research note on Wednesday, May 27th. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Barclays boosted their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Friday, July 17th. Finally, Oppenheimer reduced their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $141.65 on Thursday. The business has a 50 day moving average of $142.14 and a 200-day moving average of $148.83. The company has a market capitalization of $10.86 billion, a P/E ratio of 26.04, a P/E/G ratio of 1.50 and a beta of 1.26. Advanced Drainage Systems, Inc. has a 1 year low of $110.85 and a 1 year high of $179.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The firm had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. During the same quarter last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 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 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio is 14.71%.

Advanced Drainage Systems 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.