National Bank of Canada FI Purchases New Shares in Advanced Drainage Systems, Inc. (NYSE:WMS)

National Bank of Canada FI purchased a new stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 286 shares of the construction company’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WMS. Impact Partnership Wealth LLC increased its stake in shares of Advanced Drainage Systems by 80.3% in the 2nd quarter. Impact Partnership Wealth LLC now owns 1,570 shares of the construction company’s stock valued at $252,000 after acquiring an additional 699 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Advanced Drainage Systems by 15.7% in the second quarter. CIBC Asset Management Inc now owns 2,192 shares of the construction company’s stock worth $352,000 after purchasing an additional 297 shares during the period. Lisanti Capital Growth LLC boosted its position in shares of Advanced Drainage Systems by 53.8% during the second quarter. Lisanti Capital Growth LLC now owns 8,865 shares of the construction company’s stock worth $1,422,000 after purchasing an additional 3,100 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Advanced Drainage Systems by 12.2% in the 2nd quarter. Van ECK Associates Corp now owns 27,249 shares of the construction company’s stock valued at $4,370,000 after buying an additional 2,956 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Advanced Drainage Systems by 26.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,022 shares of the construction company’s stock valued at $2,409,000 after buying an additional 3,107 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $147.58 on Monday. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. The company has a market cap of $11.44 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 1-year low of $102.32 and a 1-year high of $184.27. The company has a 50 day moving average of $156.80 and a 200-day moving average of $163.03.

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

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

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

About Advanced Drainage Systems

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.