UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 103,500 Shares of Advanced Drainage Systems, Inc. $WMS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 4.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,346,623 shares of the construction company’s stock after selling 103,500 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Advanced Drainage Systems were worth $368,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WMS. Allworth Financial LP bought a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after purchasing an additional 176 shares during the period. SJS Investment Consulting Inc. raised its stake in Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after purchasing an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Advanced Drainage Systems in the third quarter valued at about $36,000. Finally, Kestra Advisory Services LLC bought a new stake in Advanced Drainage Systems during the fourth quarter worth about $37,000. Institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

WMS has been the topic of a number of analyst reports. Robert W. Baird set a $206.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, August 7th. UBS Group boosted their target price 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. National Bank Financial set a $190.00 price target on shares of Advanced Drainage Systems in a research report on Monday, August 24th. DA Davidson started coverage on shares of Advanced Drainage Systems in a research note on Tuesday, August 25th. They issued a “buy” rating and a $190.00 price objective on the stock. Finally, Oppenheimer lowered their price objective on shares of Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $188.70.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $137.11 on Monday. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm’s fifty day simple moving average is $145.99 and its two-hundred day simple moving average is $146.29. Advanced Drainage Systems, Inc. has a 12 month low of $128.03 and a 12 month high of $179.32. The stock has a market capitalization of $10.34 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.39 million. During the same period in the previous year, the business earned $1.95 EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. As a group, analysts predict that Advanced Drainage Systems, Inc. will post 6.62 EPS 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s payout ratio is 13.82%.

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.