Essex Investment Management Co. LLC Raises Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Essex Investment Management Co. LLC lifted its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,684 shares of the construction company’s stock after buying an additional 2,909 shares during the period. Essex Investment Management Co. LLC’s holdings in Advanced Drainage Systems were worth $1,466,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank lifted its position in Advanced Drainage Systems by 123.1% in the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after acquiring an additional 213 shares in the last quarter. Millburn Ridgefield Corp raised its stake in shares of Advanced Drainage Systems by 642.4% in the third quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock worth $77,000 after purchasing an additional 424 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after purchasing an additional 88 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at $94,000. Finally, First Horizon Advisors Inc. increased its holdings in Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $114.96 on Monday. The business has a 50-day simple moving average of $119.00 and a two-hundred day simple moving average of $134.50. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a 52 week low of $101.90 and a 52 week high of $184.27. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.13 and a beta of 1.61.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, analysts expect that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.70%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WMS. StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. KeyCorp cut their target price on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Oppenheimer lowered their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Wednesday, January 8th. Finally, Stephens reissued an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.