Millburn Ridgefield Corp Acquires 424 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Millburn Ridgefield Corp increased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 642.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490 shares of the construction company’s stock after buying an additional 424 shares during the period. Millburn Ridgefield Corp’s holdings in Advanced Drainage Systems were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WMS. West Oak Capital LLC raised its stake in shares of Advanced Drainage Systems by 133.3% during the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. increased its stake in Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. National Bank of Canada FI bought a new stake in Advanced Drainage Systems in the second quarter valued at approximately $45,000. Huntington National Bank increased its stake in Advanced Drainage Systems by 123.1% in the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after purchasing an additional 213 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Advanced Drainage Systems by 65.2% in the second quarter. GAMMA Investing LLC now owns 451 shares of the construction company’s stock valued at $72,000 after purchasing an additional 178 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. KeyCorp reduced their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Barclays reduced their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Oppenheimer reduced their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Loop Capital reduced their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $131.95 on Thursday. Advanced Drainage Systems, Inc. has a 12 month low of $122.61 and a 12 month high of $184.27. The firm has a fifty day simple moving average of $146.44 and a 200 day simple moving average of $155.55. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.22 and a beta of 1.48. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). The business had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Advanced Drainage Systems 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.