Sei Investments Co. Has $24.74 Million Position in Advanced Drainage Systems, Inc. $WMS

Sei Investments Co. raised its holdings in Advanced Drainage Systems, Inc. (NYSE:WMS) by 6.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 180,395 shares of the construction company’s stock after purchasing an additional 10,741 shares during the period. Sei Investments Co.’s holdings in Advanced Drainage Systems were worth $24,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Advanced Drainage Systems by 3.1% during the 3rd quarter. State Street Corp now owns 2,551,901 shares of the construction company’s stock worth $353,949,000 after acquiring an additional 75,777 shares during the period. Pictet Asset Management Holding SA increased its stake in Advanced Drainage Systems by 32.9% in the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock valued at $302,290,000 after acquiring an additional 546,298 shares during the period. Amundi increased its stake in Advanced Drainage Systems by 80.9% in the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after acquiring an additional 572,193 shares during the period. Geode Capital Management LLC raised its position in Advanced Drainage Systems by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,271,453 shares of the construction company’s stock worth $184,184,000 after purchasing an additional 15,069 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Advanced Drainage Systems by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 1,264,156 shares of the construction company’s stock worth $183,088,000 after purchasing an additional 75,250 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on WMS shares. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a report on Monday, June 22nd. Jefferies Financial Group assumed coverage on Advanced Drainage Systems in a report on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price for the company. Barclays raised their target price on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Oppenheimer decreased their price target on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Advanced Drainage Systems Trading Up 1.3%

Shares of WMS stock opened at $145.12 on Wednesday. Advanced Drainage Systems, Inc. has a 12-month low of $110.85 and a 12-month high of $179.32. The company has a market capitalization of $11.12 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.54 and a beta of 1.26. The firm has a 50-day moving average price of $142.71 and a 200 day moving average price of $148.63. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $676.76 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase 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 presently 14.71%.

Advanced Drainage Systems 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.