Proficio Capital Partners LLC Buys Shares of 17,135 Advanced Drainage Systems, Inc. (NYSE:WMS)

Proficio Capital Partners LLC purchased a new position in Advanced Drainage Systems, Inc. (NYSE:WMS) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 17,135 shares of the construction company’s stock, valued at approximately $1,981,000.

Several other hedge funds also recently made changes to their positions in WMS. CIBC Asset Management Inc lifted its holdings in Advanced Drainage Systems by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock worth $357,000 after purchasing an additional 79 shares in the last quarter. UMB Bank n.a. increased its position 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 buying an additional 88 shares during the period. Blue Trust Inc. increased its position in shares of Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock valued at $116,000 after buying an additional 108 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Advanced Drainage Systems by 4.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock worth $379,000 after buying an additional 111 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Advanced Drainage Systems by 8.8% in the third quarter. QRG Capital Management Inc. now owns 1,638 shares of the construction company’s stock valued at $257,000 after acquiring an additional 132 shares during the period. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Drainage Systems Trading Up 3.9 %

NYSE WMS opened at $111.47 on Thursday. The company has a quick ratio of 1.98, a current ratio of 3.21 and a debt-to-equity ratio of 0.93. The stock’s 50-day simple moving average is $119.08 and its two-hundred day simple moving average is $135.17. Advanced Drainage Systems, Inc. has a twelve month low of $101.90 and a twelve month high of $184.27. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.13 and a beta of 1.61.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Research analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.16 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.57%. Advanced Drainage Systems’s payout ratio is 10.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WMS. Oppenheimer decreased their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Robert W. Baird decreased their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. KeyCorp dropped their price objective on 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. Barclays reduced their target price on Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.