Perigon Wealth Management LLC Takes $710,000 Position in Advanced Drainage Systems, Inc. $WMS

Perigon Wealth Management LLC acquired a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,905 shares of the construction company’s stock, valued at approximately $710,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WMS. Wellington Management Group LLP boosted its stake in shares of Advanced Drainage Systems by 234.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after acquiring an additional 832,929 shares in the last quarter. Interval Partners LP boosted its stake in shares of Advanced Drainage Systems by 98.0% during the 3rd quarter. Interval Partners LP now owns 968,534 shares of the construction company’s stock worth $134,336,000 after acquiring an additional 479,413 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems during the 3rd quarter worth about $45,591,000. Franklin Resources Inc. boosted its stake in shares of Advanced Drainage Systems by 586.9% during the 3rd quarter. Franklin Resources Inc. now owns 285,810 shares of the construction company’s stock worth $39,642,000 after acquiring an additional 244,202 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Advanced Drainage Systems by 34.9% during the 3rd quarter. Capital International Investors now owns 933,851 shares of the construction company’s stock worth $129,525,000 after acquiring an additional 241,500 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Down 0.5%

Shares of NYSE WMS opened at $139.98 on Wednesday. The company has a 50 day simple moving average of $153.55 and a 200-day simple moving average of $149.00. The company has a market capitalization of $10.90 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08. Advanced Drainage Systems, Inc. has a 1 year low of $93.92 and a 1 year high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. The business had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors 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 dividend yield of 0.5%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 11.98%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WMS. 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 research note on Friday, February 6th. Barclays increased their target price on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Oppenheimer increased their target price on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Royal Bank Of Canada increased their target price on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Robert W. Baird set a $205.00 price objective on Advanced Drainage Systems in a report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $193.43.

About Advanced Drainage Systems

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.