HighTower Advisors LLC Trims Holdings in Advanced Drainage Systems, Inc. (NYSE:WMS)

HighTower Advisors LLC reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 16.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,138 shares of the construction company’s stock after selling 3,847 shares during the quarter. HighTower Advisors LLC’s holdings in Advanced Drainage Systems were worth $3,015,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WMS. Holocene Advisors LP acquired a new position in shares of Advanced Drainage Systems during the 3rd quarter worth $3,342,000. Benjamin Edwards Inc. purchased a new position in Advanced Drainage Systems in the 3rd quarter valued at about $259,000. Atom Investors LP lifted its holdings in shares of Advanced Drainage Systems by 169.9% during the 3rd quarter. Atom Investors LP now owns 20,125 shares of the construction company’s stock worth $3,163,000 after acquiring an additional 12,669 shares during the period. Verition Fund Management LLC purchased a new position in shares of Advanced Drainage Systems during the 3rd quarter worth about $6,544,000. Finally, Isthmus Partners LLC lifted its holdings in shares of Advanced Drainage Systems by 15.3% during the 3rd quarter. Isthmus Partners LLC now owns 2,572 shares of the construction company’s stock worth $404,000 after acquiring an additional 342 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WMS shares. Stephens restated an “equal weight” rating and issued a $135.00 price target (down previously from $170.00) on shares of Advanced Drainage Systems in a report on Wednesday, November 13th. Loop Capital reduced their price objective 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. KeyCorp cut 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. Oppenheimer cut their price objective on shares of 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, Barclays lowered their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Stock Performance

WMS opened at $128.04 on Friday. The stock has a market cap of $9.93 billion, a PE ratio of 20.39, a P/E/G ratio of 1.23 and a beta of 1.48. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97. Advanced Drainage Systems, Inc. has a 1 year low of $123.94 and a 1 year high of $184.27. The stock’s 50 day simple moving average is $142.72 and its 200-day simple moving average is $153.55.

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

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is presently 10.19%.

Advanced Drainage Systems Company 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.