Weiss Asset Management LP Invests $5.17 Million in Advanced Drainage Systems, Inc. $WMS

Weiss Asset Management LP purchased a new position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 37,700 shares of the construction company’s stock, valued at approximately $5,170,000.

Several other large investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $26,000 after acquiring an additional 176 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Advanced Drainage Systems by 78.1% during the 1st 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advanced Drainage Systems during the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at $37,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Wall Street Analyst Weigh In

WMS has been the subject of several analyst reports. KeyCorp reiterated an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They issued a “buy” rating and a $175.00 price objective on the stock. Stephens raised shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $190.00 to $175.00 in a research report on Wednesday, May 27th. Barclays increased their price objective on shares of 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 dropped their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, May 26th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $142.05 on Monday. 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, Inc. has a 52 week low of $110.85 and a 52 week high of $179.32. The stock has a market capitalization of $10.89 billion, a PE ratio of 26.11, a P/E/G ratio of 1.53 and a beta of 1.26. The firm has a 50 day moving average of $142.29 and a two-hundred day moving average of $148.70.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.12. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The business had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. During the same period in the previous year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts predict that Advanced Drainage Systems, Inc. will post 6.55 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

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