Point72 Asset Management L.P. Makes New $21.66 Million Investment in Advanced Drainage Systems, Inc. (NYSE:WMS)

Point72 Asset Management L.P. acquired a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 135,030 shares of the construction company’s stock, valued at approximately $21,657,000. Point72 Asset Management L.P. owned about 0.17% of Advanced Drainage Systems as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after acquiring an additional 395,099 shares during the last quarter. Boston Partners lifted its position in Advanced Drainage Systems by 16.9% during the 1st quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock valued at $261,609,000 after purchasing an additional 219,629 shares during the period. William Blair Investment Management LLC lifted its position in Advanced Drainage Systems by 4.7% during the 2nd quarter. William Blair Investment Management LLC now owns 1,430,091 shares of the construction company’s stock valued at $229,372,000 after purchasing an additional 64,618 shares during the period. Thrivent Financial for Lutherans lifted its position in Advanced Drainage Systems by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,382,735 shares of the construction company’s stock valued at $221,777,000 after purchasing an additional 7,690 shares during the period. Finally, Swedbank AB lifted its position in Advanced Drainage Systems by 2.1% during the 2nd quarter. Swedbank AB now owns 1,308,821 shares of the construction company’s stock valued at $209,922,000 after purchasing an additional 26,581 shares during the period. Institutional investors own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Advanced Drainage Systems Stock Performance

Shares of NYSE:WMS opened at $160.29 on Monday. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 1.36 and a beta of 1.53. The firm’s 50 day simple moving average is $154.63 and its 200 day simple moving average is $162.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. Advanced Drainage Systems, Inc. has a fifty-two week low of $102.32 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted 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. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The business had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. As a group, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.40%. 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.