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

Oppenheimer Asset Management Inc. lessened its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,548 shares of the construction company’s stock after selling 533 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Advanced Drainage Systems were worth $558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WMS. CANADA LIFE ASSURANCE Co raised its stake in shares of Advanced Drainage Systems by 24.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock worth $11,006,000 after buying an additional 12,655 shares in the last quarter. Magnetar Financial LLC bought a new stake in Advanced Drainage Systems in the first quarter worth about $525,000. Price T Rowe Associates Inc. MD lifted its holdings in Advanced Drainage Systems by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after acquiring an additional 19,626 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. Finally, Castleark Management LLC bought a new position in shares of Advanced Drainage Systems during the 1st quarter valued at about $580,000. Institutional investors own 89.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Loop Capital cut their target price on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Robert W. Baird dropped their price target on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Barclays reduced their price objective on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Oppenheimer cut their target price on 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, KeyCorp decreased their price target on 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

Advanced Drainage Systems Price Performance

Shares of NYSE:WMS opened at $129.07 on Wednesday. The company has a market cap of $10.01 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. The company’s fifty day moving average is $149.87 and its two-hundred day moving average is $158.30. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. Advanced Drainage Systems, Inc. has a 12-month low of $116.98 and a 12-month high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.23). The business had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.71 earnings per share. Equities analysts expect that Advanced Drainage Systems, Inc. will post 6.5 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

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.