Chesapeake Capital Corp IL Cuts Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Chesapeake Capital Corp IL lowered its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,540 shares of the construction company’s stock after selling 141 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Advanced Drainage Systems were worth $407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WMS. QRG Capital Management Inc. purchased a new stake in shares of Advanced Drainage Systems in the 1st quarter worth approximately $201,000. US Bancorp DE boosted its stake in Advanced Drainage Systems by 11.8% during the 1st quarter. US Bancorp DE now owns 2,475 shares of the construction company’s stock valued at $426,000 after purchasing an additional 262 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Advanced Drainage Systems by 319.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after purchasing an additional 115 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Advanced Drainage Systems during the 1st quarter valued at $384,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. KeyCorp cut their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Loop Capital dropped their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Stephens restated an “equal weight” rating and issued a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. 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 research note on Monday, November 11th. Finally, Barclays dropped their price target on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Price Performance

NYSE:WMS opened at $131.42 on Monday. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97. The business’s 50-day simple moving average is $150.26 and its two-hundred day simple moving average is $158.76. The stock has a market cap of $10.19 billion, a PE ratio of 20.93, a P/E/G ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 52 week low of $116.98 and a 52 week 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 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The business had revenue of $782.60 million for the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. Advanced Drainage Systems’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share. As a group, analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.49%. Advanced Drainage Systems’s payout ratio 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.