Financial Advocates Investment Management Has $395,000 Stock Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Financial Advocates Investment Management increased its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,514 shares of the construction company’s stock after purchasing an additional 171 shares during the quarter. Financial Advocates Investment Management’s holdings in Advanced Drainage Systems were worth $395,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc increased its holdings in shares of Advanced Drainage Systems by 28.5% during the third quarter. abrdn plc now owns 579,485 shares of the construction company’s stock worth $91,683,000 after buying an additional 128,539 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Advanced Drainage Systems by 10.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,190 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 785 shares in the last quarter. PFG Investments LLC raised its position in Advanced Drainage Systems by 3.9% in the 3rd quarter. PFG Investments LLC now owns 8,635 shares of the construction company’s stock valued at $1,357,000 after purchasing an additional 321 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Advanced Drainage Systems by 1.6% in the third quarter. Louisiana State Employees Retirement System now owns 19,600 shares of the construction company’s stock worth $3,080,000 after purchasing an additional 300 shares in the last quarter. Finally, Outlook Wealth Advisors LLC boosted its stake in Advanced Drainage Systems by 8.3% in the third quarter. Outlook Wealth Advisors LLC now owns 2,088 shares of the construction company’s stock worth $328,000 after purchasing an additional 160 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $149.64 on Friday. The firm’s 50 day moving average price is $152.14 and its two-hundred day moving average price is $159.90. The stock has a market cap of $11.60 billion, a PE ratio of 23.68, a PEG ratio of 1.27 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 52-week low of $104.16 and a 52-week high of $184.27. 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 announced its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.08. The company had revenue of $815.34 million during 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%. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 6.95 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio is currently 10.13%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WMS shares. Loop Capital cut their price target on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Barclays reduced 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. StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Oppenheimer restated an “outperform” rating and issued a $192.00 price objective on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. Finally, Robert W. Baird decreased their price objective on 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 investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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 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.