AGF Management Ltd. Sells 118,767 Shares of Advanced Drainage Systems, Inc. (NYSE:WMS)

AGF Management Ltd. cut its position in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 59.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,499 shares of the construction company’s stock after selling 118,767 shares during the quarter. AGF Management Ltd.’s holdings in Advanced Drainage Systems were worth $13,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of 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 worth $26,000 after acquiring an additional 115 shares in the last quarter. West Oak Capital LLC boosted its holdings in Advanced Drainage Systems by 133.3% during the second quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. grew its position in Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock valued at $30,000 after purchasing an additional 162 shares in the last quarter. Rise Advisors LLC acquired a new stake in Advanced Drainage Systems in the 1st quarter valued at $32,000. Finally, National Bank of Canada FI bought a new stake in Advanced Drainage Systems during the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Loop Capital decreased their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird dropped their price objective on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. KeyCorp raised their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, Stephens boosted their target price on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS opened at $143.06 on Thursday. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $11.09 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.15 and a beta of 1.53. Advanced Drainage Systems, Inc. has a 12 month low of $102.32 and a 12 month high of $184.27. The stock has a 50 day moving average of $157.15 and a 200-day moving average of $163.31.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $815.34 million during the quarter, compared to the consensus estimate of $828.00 million. As a group, equities research analysts predict that Advanced Drainage Systems, Inc. will post 7.18 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

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

About Advanced Drainage Systems

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.