Financial Advocates Investment Management Acquires 703 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Financial Advocates Investment Management raised its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 28.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,217 shares of the construction company’s stock after purchasing an additional 703 shares during the quarter. Financial Advocates Investment Management’s holdings in Advanced Drainage Systems were worth $372,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Creative Planning increased its stake in Advanced Drainage Systems by 9.3% in the second quarter. Creative Planning now owns 4,701 shares of the construction company’s stock worth $754,000 after purchasing an additional 401 shares during the period. Truist Financial Corp grew its holdings in shares of Advanced Drainage Systems by 14.5% in the second quarter. Truist Financial Corp now owns 2,095 shares of the construction company’s stock worth $336,000 after purchasing an additional 266 shares during the last quarter. CWM LLC lifted its holdings in Advanced Drainage Systems by 18.1% during the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after buying an additional 85 shares in the last quarter. UMB Bank n.a. boosted its position in Advanced Drainage Systems by 20.5% in the 3rd quarter. UMB Bank n.a. now owns 693 shares of the construction company’s stock valued at $109,000 after buying an additional 118 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Advanced Drainage Systems during the third quarter worth approximately $414,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 2.3 %

NYSE:WMS opened at $120.41 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.15 and a current ratio of 3.21. The stock has a market capitalization of $9.33 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.13 and a beta of 1.52. The company’s 50-day simple moving average is $121.34 and its 200-day simple moving average is $139.97. Advanced Drainage Systems, Inc. has a fifty-two week low of $110.75 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is presently 10.70%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WMS. Barclays lowered their price target on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a report on Friday. KeyCorp dropped their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Stephens restated an “equal weight” rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday. Loop Capital dropped their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday. Finally, Robert W. Baird reduced their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.25.

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.