Wealth Enhancement Advisory Services LLC Sells 6,897 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Wealth Enhancement Advisory Services LLC cut its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 52.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,172 shares of the construction company’s stock after selling 6,897 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Advanced Drainage Systems were worth $970,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC increased its stake in shares of Advanced Drainage Systems by 15.6% in the 1st quarter. ORG Partners LLC now owns 490 shares of the construction company’s stock worth $83,000 after purchasing an additional 66 shares in the last quarter. CWM LLC boosted its holdings in Advanced Drainage Systems by 18.1% in the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock worth $87,000 after buying an additional 85 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Advanced Drainage Systems by 10.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $164,000 after buying an additional 95 shares during the period. West Oak Capital LLC boosted its holdings in Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after buying an additional 115 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Loop Capital dropped 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 report on Monday, August 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $192.00 target price on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Robert W. Baird dropped their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Barclays lowered their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the 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.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $155.25 on Wednesday. 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 1-year low of $110.31 and a 1-year high of $184.27. The firm has a market capitalization of $12.03 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. The company’s 50-day moving average is $151.90 and its 200 day moving average is $159.89.

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

Advanced Drainage Systems Announces Dividend

The business also recently announced 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 0.41%. The ex-dividend date of this dividend was Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 10.13%.

Advanced Drainage Systems Profile

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.