Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,552 shares of the construction company’s stock after purchasing an additional 12,823 shares during the quarter. Bank of New York Mellon Corp owned 0.76% of Advanced Drainage Systems worth $68,383,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Huntington National Bank lifted its stake in Advanced Drainage Systems by 123.1% during the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after acquiring an additional 213 shares in the last quarter. Millburn Ridgefield Corp boosted 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 valued at $77,000 after purchasing an additional 424 shares during the period. UMB Bank n.a. grew its holdings in shares of Advanced Drainage Systems by 12.7% in 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 Advanced Drainage Systems during the 4th quarter worth approximately $94,000. Finally, First Horizon Advisors Inc. lifted its holdings in Advanced Drainage Systems by 18.3% during 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. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Down 3.3 %

Shares of NYSE:WMS opened at $107.72 on Tuesday. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The firm has a 50 day simple moving average of $119.35 and a 200-day simple moving average of $135.63. The company has a market capitalization of $8.36 billion, a PE ratio of 18.01, a P/E/G ratio of 1.13 and a beta of 1.52. Advanced Drainage Systems, Inc. has a twelve month low of $107.13 and a twelve month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data 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 net margin of 15.90% and a return on equity of 35.79%. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.59%. Advanced Drainage Systems’s dividend payout ratio is presently 10.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WMS shares. Barclays lowered their target price on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Loop Capital cut their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Robert W. Baird decreased their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Oppenheimer dropped their price objective on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, UBS Group raised shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and an average target price of $164.25.

About Advanced Drainage Systems

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.