Corient Private Wealth LP Invests $54.91 Million in Advanced Drainage Systems, Inc. $WMS

Corient Private Wealth LP purchased a new stake in Advanced Drainage Systems, Inc. (NYSE:WMS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 349,804 shares of the construction company’s stock, valued at approximately $54,905,000.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in Advanced Drainage Systems by 352.0% in the 2nd 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 in the last quarter. Allworth Financial LP acquired a new position in shares of Advanced Drainage Systems during the 2nd quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its holdings in shares of Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 107 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Advanced Drainage Systems during the third quarter worth approximately $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $37,000. 89.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. National Bank Financial set a $190.00 price target on Advanced Drainage Systems in a research note on Monday. DA Davidson started coverage on Advanced Drainage Systems in a report on Tuesday. They issued a “buy” rating and a $190.00 price objective for the company. Jefferies Financial Group started 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. Robert W. Baird set a $206.00 target price on Advanced Drainage Systems in a report on Friday, August 7th. Finally, UBS Group raised their price target on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and an average target price of $188.70.

Advanced Drainage Systems Trading Down 1.6%

Shares of WMS opened at $139.16 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. Advanced Drainage Systems, Inc. has a 52-week low of $128.03 and a 52-week high of $179.32. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.55 and a beta of 1.27. The business’s fifty day moving average is $146.19 and its 200-day moving average is $146.54.

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

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 dividend payout ratio is presently 13.82%.

Advanced Drainage Systems Company Profile

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.