Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,450 shares of the construction company’s stock after selling 8,722 shares during the period. JPMorgan Chase & Co.’s holdings in Advanced Drainage Systems were worth $39,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised 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 purchasing an additional 3,107 shares during the last quarter. CIBC Asset Management Inc lifted its position in Advanced Drainage Systems by 15.7% during the 2nd quarter. CIBC Asset Management Inc now owns 2,192 shares of the construction company’s stock worth $352,000 after acquiring an additional 297 shares during the period. National Bank of Canada FI acquired a new stake in Advanced Drainage Systems during the 2nd quarter worth about $45,000. Arizona State Retirement System grew its stake in Advanced Drainage Systems by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 19,556 shares of the construction company’s stock valued at $3,137,000 after purchasing an additional 286 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Advanced Drainage Systems by 2.1% in the second quarter. Private Advisor Group LLC now owns 10,890 shares of the construction company’s stock worth $1,747,000 after purchasing an additional 222 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on WMS shares. Stephens restated an “equal weight” rating and set a $135.00 price objective (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Oppenheimer lowered their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. KeyCorp lowered their target price 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. Loop Capital lowered their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Barclays lowered their target price on shares of 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus target price of $170.29.

Advanced Drainage Systems Stock Up 1.0 %

Shares of NYSE WMS opened at $115.47 on Monday. Advanced Drainage Systems, Inc. has a 52-week low of $113.10 and a 52-week high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. The company’s 50-day simple moving average is $131.04 and its 200-day simple moving average is $147.38. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. Advanced Drainage Systems’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 earnings per share. Equities analysts predict that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.55%. Advanced Drainage Systems’s payout ratio is currently 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.