Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,797 shares of the construction company’s stock after selling 79 shares during the period. Fisher Asset Management LLC’s holdings in Advanced Drainage Systems were worth $4,997,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WMS. Boston Partners grew its holdings in Advanced Drainage Systems by 16.9% during the first quarter. Boston Partners now owns 1,519,118 shares of the construction company’s stock worth $261,609,000 after acquiring an additional 219,629 shares during the period. Millennium Management LLC grew its holdings in Advanced Drainage Systems by 136.2% during the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock worth $50,105,000 after acquiring an additional 180,154 shares during the period. Lazard Freres Gestion S.A.S. purchased a new position in Advanced Drainage Systems in the 2nd quarter worth about $28,870,000. Point72 Asset Management L.P. purchased a new position in Advanced Drainage Systems in the 2nd quarter worth about $21,657,000. Finally, abrdn plc increased its stake in Advanced Drainage Systems by 28.5% in the 3rd quarter. abrdn plc now owns 579,485 shares of the construction company’s stock worth $91,683,000 after purchasing an additional 128,539 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WMS has been the topic of a number of analyst reports. Barclays dropped their price target on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. 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 note on Monday, November 11th. Robert W. Baird dropped their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Oppenheimer dropped their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Loop Capital dropped their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Trading Up 1.2 %

NYSE:WMS opened at $133.23 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. Advanced Drainage Systems, Inc. has a fifty-two week low of $119.25 and a fifty-two week high of $184.27. The stock’s 50-day moving average is $147.98 and its two-hundred day moving average is $156.76. The stock has a market cap of $10.33 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.23). The business had revenue of $782.60 million for the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The company’s revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $1.71 EPS. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.48%. Advanced Drainage Systems’s payout ratio is 10.19%.

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.