Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,079 shares of the construction company’s stock after selling 469 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $356,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Advanced Drainage Systems by 8.8% in the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock valued at $399,452,000 after purchasing an additional 206,105 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Advanced Drainage Systems by 50.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock valued at $11,186,000 after purchasing an additional 32,418 shares in the last quarter. Zacks Investment Management acquired a new position in shares of Advanced Drainage Systems in the third quarter valued at approximately $2,694,000. Advantage Alpha Capital Partners LP acquired a new position in shares of Advanced Drainage Systems in the third quarter valued at approximately $8,540,000. Finally, Swedbank AB lifted its stake in Advanced Drainage Systems by 5.8% in the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after acquiring an additional 75,455 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WMS shares. KeyCorp decreased their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. StockNews.com upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays decreased their price target on shares of 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. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Wednesday, January 8th. Finally, Stephens reiterated an “equal weight” rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

Advanced Drainage Systems Stock Up 1.9 %

Shares of NYSE:WMS opened at $113.48 on Friday. The company has a market capitalization of $8.80 billion, a PE ratio of 18.98, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. Advanced Drainage Systems, Inc. has a twelve month low of $101.90 and a twelve month high of $184.27. The firm has a 50 day simple moving average of $119.08 and a 200-day simple moving average of $135.17.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share 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, equities analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

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

Advanced Drainage Systems 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.