Victory Capital Management Inc. Sells 136,979 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

Victory Capital Management Inc. reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 83.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,211 shares of the construction company’s stock after selling 136,979 shares during the period. Victory Capital Management Inc.’s holdings in Advanced Drainage Systems were worth $3,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WMS. Huntington National Bank raised its stake 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 during the period. Millburn Ridgefield Corp raised its stake in Advanced Drainage Systems by 642.4% in the 3rd quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock valued at $77,000 after acquiring an additional 424 shares during the period. UMB Bank n.a. raised its stake in Advanced Drainage Systems by 12.7% in the 4th quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after acquiring an additional 88 shares during the period. Spire Wealth Management bought a new stake in Advanced Drainage Systems in the 4th quarter valued at about $94,000. Finally, First Horizon Advisors Inc. raised its stake 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 valued at $102,000 after acquiring an additional 137 shares during the period. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WMS shares. Loop Capital lowered their price objective on 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. StockNews.com raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Stephens reaffirmed an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a report on Wednesday, January 8th. Finally, 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 report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.25.

Advanced Drainage Systems Stock Up 3.3 %

Shares of NYSE WMS opened at $108.74 on Monday. Advanced Drainage Systems, Inc. has a 12 month low of $101.90 and a 12 month high of $184.27. 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 market capitalization of $8.44 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.13 and a beta of 1.61. The business has a 50-day moving average of $118.43 and a 200-day moving average of $132.73.

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

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is currently 10.70%.

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.