WCM Investment Management LLC Sells 3,635 Shares of Advanced Drainage Systems, Inc. $WMS

WCM Investment Management LLC lowered its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,937 shares of the construction company’s stock after selling 3,635 shares during the quarter. WCM Investment Management LLC owned approximately 0.15% of Advanced Drainage Systems worth $14,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Advanced Drainage Systems by 406.0% in the fourth quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company’s stock valued at $3,954,000 after purchasing an additional 21,906 shares during the last quarter. Pier Capital LLC increased its holdings in shares of Advanced Drainage Systems by 69,891.7% during the fourth quarter. Pier Capital LLC now owns 50,394 shares of the construction company’s stock worth $7,299,000 after purchasing an additional 50,322 shares during the period. J. Safra Sarasin Holding AG increased its stake in Advanced Drainage Systems by 22.5% during the 4th quarter. J. Safra Sarasin Holding AG now owns 166,469 shares of the construction company’s stock worth $24,110,000 after acquiring an additional 30,557 shares during the period. Elevatus Welath Management acquired a new position in Advanced Drainage Systems in the fourth quarter valued at about $2,600,000. Finally, Mirabaud Asset Management Ltd acquired a new position in shares of Advanced Drainage Systems in the 4th quarter valued at approximately $3,283,000. Institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $190.00 to $175.00 in a research note on Wednesday, May 27th. Barclays lifted their price objective on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Jefferies Financial Group assumed coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They set a “buy” rating and a $175.00 price target on the stock. Finally, UBS Group lowered their price objective on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.00.

Advanced Drainage Systems Price Performance

WMS opened at $143.00 on Tuesday. Advanced Drainage Systems, Inc. has a 1 year low of $110.79 and a 1 year high of $179.32. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. The firm’s fifty day moving average price is $142.08 and its two-hundred day moving average price is $148.90. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.59 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.95 by $0.12. The firm had revenue of $676.76 million for the quarter, compared to analysts’ expectations of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, analysts anticipate that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.6%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio is 14.71%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.