Corient Private Wealth LLC Reduces Stock Position in Advanced Drainage Systems, Inc. (NYSE:WMS)

Corient Private Wealth LLC cut its stake in Advanced Drainage Systems, Inc. (NYSE:WMS) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 439,771 shares of the construction company’s stock after selling 37,445 shares during the period. Corient Private Wealth LLC’s holdings in Advanced Drainage Systems were worth $50,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its stake in Advanced Drainage Systems by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,071 shares of the construction company’s stock valued at $1,049,000 after buying an additional 282 shares during the last quarter. LBP AM SA grew its holdings in shares of Advanced Drainage Systems by 1.4% in the fourth quarter. LBP AM SA now owns 58,432 shares of the construction company’s stock worth $6,755,000 after acquiring an additional 827 shares during the period. PGGM Investments grew its holdings in shares of Advanced Drainage Systems by 84.2% in the fourth quarter. PGGM Investments now owns 150,261 shares of the construction company’s stock worth $17,370,000 after acquiring an additional 68,671 shares during the period. Vestcor Inc purchased a new stake in Advanced Drainage Systems during the fourth quarter valued at $247,000. Finally, Swiss National Bank lifted its holdings in Advanced Drainage Systems by 6.3% in the fourth quarter. Swiss National Bank now owns 144,900 shares of the construction company’s stock valued at $16,750,000 after acquiring an additional 8,600 shares during the period. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Stock Up 1.1 %

WMS opened at $110.03 on Tuesday. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. The firm’s fifty day moving average is $118.34 and its 200 day moving average is $132.40. Advanced Drainage Systems, Inc. has a fifty-two week low of $101.90 and a fifty-two week high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced 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 net margin of 15.90% and a return on equity of 35.79%. On average, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.70%.

Analysts Set New Price Targets

A number of research firms have issued reports on WMS. StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Loop Capital cut their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, February 7th. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Wednesday, January 8th. Barclays cut their price objective on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus price target of $164.25.

Advanced Drainage Systems 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.