Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Guinness Asset Management LTD

Guinness Asset Management LTD increased its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 38.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,228 shares of the construction company’s stock after buying an additional 1,171 shares during the quarter. Guinness Asset Management LTD’s holdings in Advanced Drainage Systems were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of Advanced Drainage Systems by 12.7% during the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after acquiring an additional 88 shares during the last quarter. Foresight Group Ltd Liability Partnership increased its position in Advanced Drainage Systems by 16.3% during the fourth quarter. Foresight Group Ltd Liability Partnership now owns 7,828 shares of the construction company’s stock worth $899,000 after purchasing an additional 1,097 shares during the last quarter. Outlook Wealth Advisors LLC raised its stake in Advanced Drainage Systems by 29.4% during the fourth quarter. Outlook Wealth Advisors LLC now owns 2,701 shares of the construction company’s stock worth $312,000 after purchasing an additional 613 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Advanced Drainage Systems by 50.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock valued at $11,186,000 after purchasing an additional 32,418 shares during the last quarter. Finally, Northcape Capital Pty Ltd grew its stake in shares of Advanced Drainage Systems by 32.1% during the 4th quarter. Northcape Capital Pty Ltd now owns 16,509 shares of the construction company’s stock valued at $1,908,000 after buying an additional 4,016 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Up 1.4 %

Shares of NYSE:WMS opened at $125.66 on Monday. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The company has a 50 day moving average of $124.18 and a two-hundred day moving average of $144.32. Advanced Drainage Systems, Inc. has a 52-week low of $110.75 and a 52-week high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The firm had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same period in the previous year, the business posted $1.71 earnings per share. Advanced Drainage Systems’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.51%. Advanced Drainage Systems’s dividend payout ratio is presently 10.19%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Loop Capital cut their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. KeyCorp cut their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Stephens reiterated an “equal weight” rating and set a $135.00 target price (down previously from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Barclays cut their price target on shares of Advanced Drainage Systems from $172.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus target price of $166.88.

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.