Perpetual Ltd Sells 40,028 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Perpetual Ltd lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 33.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,885 shares of the construction company’s stock after selling 40,028 shares during the period. Perpetual Ltd’s holdings in Advanced Drainage Systems were worth $9,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp increased its holdings in Advanced Drainage Systems by 8.8% during the 3rd quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock valued at $399,452,000 after purchasing an additional 206,105 shares in the last quarter. Zacks Investment Management bought a new position in shares of Advanced Drainage Systems in the third quarter valued at about $2,694,000. Assenagon Asset Management S.A. lifted its position in Advanced Drainage Systems by 50.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock worth $11,186,000 after buying an additional 32,418 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new position in Advanced Drainage Systems during the 3rd quarter worth about $8,540,000. Finally, Swedbank AB grew its holdings in Advanced Drainage Systems by 5.8% during the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after acquiring an additional 75,455 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WMS shares. Stephens reissued an “equal weight” rating and set a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Wednesday, January 8th. Oppenheimer cut their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Barclays decreased their price target on Advanced Drainage Systems from $172.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird cut their target price on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.88.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $125.27 on Wednesday. The stock has a 50-day moving average of $123.87 and a 200-day moving average of $143.91. Advanced Drainage Systems, Inc. has a one year low of $110.75 and a one year high of $184.27. The stock has a market cap of $9.71 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15.

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

Advanced Drainage Systems Announces Dividend

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

About Advanced Drainage Systems

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.