Journey Advisory Group LLC Decreases Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Journey Advisory Group LLC reduced its position in Advanced Drainage Systems, Inc. (NYSE:WMS) by 63.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,716 shares of the construction company’s stock after selling 3,029 shares during the period. Journey Advisory Group LLC’s holdings in Advanced Drainage Systems were worth $275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of Advanced Drainage Systems in the first quarter worth $220,853,000. Norges Bank bought a new position in Advanced Drainage Systems during the fourth quarter valued at approximately $88,640,000. Vanguard Group Inc. boosted its holdings in Advanced Drainage Systems by 5.8% in the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock worth $1,251,353,000 after purchasing an additional 395,099 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Advanced Drainage Systems by 107.4% in the fourth quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock worth $79,814,000 after purchasing an additional 293,924 shares during the last quarter. Finally, KBC Group NV grew its position in Advanced Drainage Systems by 78.5% in the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock worth $92,750,000 after purchasing an additional 289,925 shares during the period. 89.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WMS has been the topic of a number of research reports. Barclays dropped their price target on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Loop Capital cut their price target on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. KeyCorp raised their price objective on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Stephens increased their price target on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus price target of $190.14.

Advanced Drainage Systems Trading Down 1.7 %

Advanced Drainage Systems stock opened at $140.81 on Friday. The stock has a market cap of $10.92 billion, a P/E ratio of 21.86, a PEG ratio of 1.17 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 1 year low of $102.32 and a 1 year high of $184.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The firm’s 50 day moving average price is $158.41 and its 200-day moving average price is $163.88.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 8th. The construction company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The firm had revenue of $815.34 million during the quarter, compared to analysts’ expectations of $828.00 million. On average, equities analysts predict that Advanced Drainage Systems, Inc. will post 7.18 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio is currently 9.94%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.