Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 122.1% in the second quarter, HoldingsChannel reports. The firm owned 89,500 shares of the construction company’s stock after acquiring an additional 49,200 shares during the period. Renaissance Technologies LLC’s holdings in Advanced Drainage Systems were worth $14,355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in shares of Advanced Drainage Systems by 24.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock worth $11,006,000 after buying an additional 12,655 shares during the period. Nordea Investment Management AB boosted its position in Advanced Drainage Systems by 10.3% during the 1st quarter. Nordea Investment Management AB now owns 121,851 shares of the construction company’s stock worth $21,178,000 after acquiring an additional 11,423 shares during the period. Magnetar Financial LLC bought a new position in shares of Advanced Drainage Systems in the first quarter worth $525,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Advanced Drainage Systems by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after purchasing an additional 19,626 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Advanced Drainage Systems by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Down 2.0 %

Advanced Drainage Systems stock opened at $152.45 on Monday. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.26 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 firm’s 50 day moving average price is $156.10 and its two-hundred day moving average price is $162.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89.

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

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.42%. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

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

Advanced Drainage Systems 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.