Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 16.9% during the 2nd quarter, Holdings Channel reports. The fund owned 203,424 shares of the construction company’s stock after acquiring an additional 29,471 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Advanced Drainage Systems were worth $32,627,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. raised 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 buying an additional 162 shares in the last quarter. West Oak Capital LLC lifted its holdings in Advanced Drainage Systems by 133.3% during the 2nd 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. Rise Advisors LLC acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth about $32,000. Finally, GAMMA Investing LLC increased its holdings in shares of Advanced Drainage Systems by 29.4% in the 1st quarter. GAMMA Investing LLC now owns 273 shares of the construction company’s stock valued at $47,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $192.00 price objective on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Barclays reduced their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Loop Capital reduced their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $147.58 on Monday. The company has a market cap of $11.44 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.22 and a beta of 1.53. The business has a fifty day simple moving average of $156.80 and a 200-day simple moving average of $163.03. Advanced Drainage Systems, Inc. has a 52 week low of $102.32 and a 52 week high of $184.27. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. The company had revenue of $815.34 million for the quarter, compared to the consensus estimate of $828.00 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.43%. Advanced Drainage Systems’s payout ratio is 9.94%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.