Perigon Wealth Management LLC Invests $706,000 in Advanced Drainage Systems, Inc. $WMS

Perigon Wealth Management LLC purchased a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,500 shares of the construction company’s stock, valued at approximately $706,000.

Several other large investors have also bought and sold shares of the business. HighTower Advisors LLC lifted its stake in shares of Advanced Drainage Systems by 406.0% in the 4th 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 period. Pier Capital LLC boosted its position in shares of Advanced Drainage Systems by 69,891.7% in the 4th 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 last quarter. Pictet Asset Management Holding SA grew its stake in shares of Advanced Drainage Systems by 32.9% during the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after purchasing an additional 546,298 shares during the period. Mirabaud Asset Management Ltd acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $3,283,000. Finally, Norges Bank acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $156,587,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $146.26 on Thursday. The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems, Inc. has a 12-month low of $128.03 and a 12-month high of $179.32. The firm has a fifty day moving average of $145.94 and a 200-day moving average of $147.41. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.58 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.10 by $0.39. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The firm’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. On average, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.62 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 1st. Advanced Drainage Systems’s dividend payout ratio is 13.82%.

Analyst Ratings Changes

Several equities analysts have weighed in on WMS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Jefferies Financial Group began coverage on Advanced Drainage Systems in a research report on Thursday, June 11th. They set a “buy” rating and a $175.00 target price for the company. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Royal Bank Of Canada increased their price target on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, UBS Group increased their price target on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $188.38.

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.