Van ECK Associates Corp Boosts Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

Van ECK Associates Corp grew its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 40.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,151 shares of the construction company’s stock after acquiring an additional 10,902 shares during the quarter. Van ECK Associates Corp’s holdings in Advanced Drainage Systems were worth $5,695,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC bought a new position in shares of Advanced Drainage Systems during the first quarter valued at approximately $353,000. Duality Advisers LP lifted its position in shares of Advanced Drainage Systems by 15.4% during the first quarter. Duality Advisers LP now owns 6,995 shares of the construction company’s stock worth $1,205,000 after purchasing an additional 935 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Advanced Drainage Systems by 10.1% during the first quarter. Empowered Funds LLC now owns 7,696 shares of the construction company’s stock worth $1,326,000 after purchasing an additional 707 shares during the last quarter. Highland Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems during the first quarter valued at $1,327,000. Finally, Tranquility Partners LLC purchased a new stake in Advanced Drainage Systems in the 1st quarter valued at about $232,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Trading Down 2.8 %

NYSE:WMS opened at $158.89 on Friday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.29 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 52 week low of $110.31 and a 52 week high of $184.27. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $152.03 and a 200 day moving average of $159.90.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.98 by $0.08. The firm had revenue of $815.34 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WMS shares. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Oppenheimer restated an “outperform” rating and issued a $192.00 price target on shares of Advanced Drainage Systems in a report on Thursday, August 15th. Barclays dropped their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Robert W. Baird reduced 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 research note on Friday, August 9th. Finally, Loop Capital dropped their target price on 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $190.14.

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.